Morocco's gross domestic product slumped 7.2% year-on-year in the third quarter of 2020, softening from a record 14.9% contraction in the previous period, as the economy gradually recovers from the pandemic shock. The non-agricultural sector declined 6.7%, less than a 15.5% plunge in Q2, namely the key tourism sector (-65.2% vs -90%); transportation services (-32.8% vs -55.7%); internal trade (-11.7% vs -26.5%); manufacturing (-2.6% vs -22% and construction (-12.5% vs -17.1%). Meanwhile, poor weather conditions continued to weigh on the agricultural sector (-8.6% vs -6.9%). source: Haut Commissariat au Plan

GDP Annual Growth Rate in Morocco averaged 3.51 percent from 1999 until 2020, reaching an all time high of 9.30 percent in the second quarter of 2006 and a record low of -14.90 percent in the second quarter of 2020. This page provides the latest reported value for - Morocco GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Morocco GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

GDP Annual Growth Rate in Morocco is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Morocco to stand at 4.70 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.50 percent in 2022, according to our econometric models.

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Morocco GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-7.20 -14.90 9.30 -14.90 1999 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-02 10:00 AM Q4 2.1% 2.1% 2.3%
2020-07-01 02:00 PM Q1 0.1% 2.1% 1.7%
2020-10-01 12:30 PM Q2 -14.9% 0.1% -13.5%
2021-01-04 12:30 PM Q3 -7.2% -14.9% -7%
2021-04-02 10:00 AM Q4 -7.2% -6.8%
2021-07-01 02:00 PM Q1
2021-10-01 12:30 PM Q2
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Morocco Economy Contracts Less in Q3
Morocco's gross domestic product slumped 7.2% year-on-year in the third quarter of 2020, softening from a record 14.9% contraction in the previous period, as the economy gradually recovers from the pandemic shock. The non-agricultural sector declined 6.7%, less than a 15.5% plunge in Q2, namely the key tourism sector (-65.2% vs -90%); transportation services (-32.8% vs -55.7%); internal trade (-11.7% vs -26.5%); manufacturing (-2.6% vs -22% and construction (-12.5% vs -17.1%). Meanwhile, poor weather conditions continued to weigh on the agricultural sector (-8.6% vs -6.9%).
2021-01-04
Morocco GDP Shrinks at Record 14.9% YoY in Q2
Morocco's gross domestic product plummeted 14.9% year-on-year in the second quarter of 2020, compared to a 0.1% growth in the previous period. It was the first and sharpest economic contraction on record, amid the full impact of the Covid-19 and related containment measures. The non-agricultural sector was severely hit (-15.5% vs 0.9% in Q1), namely the key tourism sector (-90%); transportation services (-55.7%); internal trade (-26.5%); manufacturing (-22%) and construction (-17.1%). Also, poor weather conditions continued to weigh on the agricultural sector (-6.9% vs -5.2%).
2020-10-01
Morocco Economy Grows the Least since 2006
Morocco's annual economic growth slowed sharply to 0.1% in the first quarter of 2020 from 2.1% in the previous period. It was the weakest pace of expansion since comparable data began in Q1 of 2006, amid the initial impact of the global pandemic. Poor weather conditions continued to weigh on the agricultural sector (-5.2% vs -5% in Q4). Meantime, the non-agricultural sector expanded much softer (0.9% vs 3%), amid declines in accommodation & food services (-7% vs 3.7%); transportation services (-2.6% vs 2.7%); internal trade (-0.4% vs 2.8%); utilities (-3.4% vs 5%) and mining (-0.4% vs 3.2%). In contrast, output rebounded markedly in fishing activities (5.2% vs -3.6%) and public administration posted a strong rise (5.8% vs 4.8%).
2020-07-01
Morocco GDP Annual Growth at 3-Year Low of 2.1%
The gross domestic product of Morocco advanced by 2.1% from a year earlier in the fourth quarter of 2019, the same pace as in the prior period which was the slowest since the last quarter of 2016, as drought continued to hit agricultural activity (-5.2 percent vs -5.3 percent in Q3). Meanwhile, the non-agricultural sector expanded (3 percent, the same pace as in the prior period), driven by manufacturing (2.7 percent vs 1.9 percent); utilities (5 percent vs 11.3 percent); internal trade (2.8 percent vs 2.9 percent); construction (1.8 percent vs 1.3 percent); mining (3.1 percent vs 2.2 percent); hotels & restaurants (3.7 percent vs 4.7 percent); finance & insurance (2.7 percent vs 1.2 percent); business services (3.6 percent vs 3.8 percent); transportation (2.7 percent vs 3.2 percent) and public administration (4.8 percent vs 4.4 percent).
2020-04-02

Morocco GDP Annual Growth Rate
Morocco is the sixth largest economy in Africa. The Services sector is the most important and accounts for 54 percent to total GDP. The biggest segments within Services are: wholesale and retail trade (9 percent of total GDP); public administration (9 percent); transport (4 percent); and hotels and restaurants (2 percent). Industry accounts for 23 percent of the GDP and the largest segments within this sector are: manufacturing (15 percent of total GDP); construction (5 percent); electricity and water supply (2 percent); and mining (2 percent). The Agriculture sector accounts for 13 percent of GDP.