The gross domestic product of Morocco advanced 2.1% from a year earlier in the third quarter of 2019, following a downwardly revised 2.2% growth in the previous period. It was the slowest expansion since the last quarter of 2016, as agricultural activity continued to shrink markedly (-5.3% vs -5.4% in Q2), mainly due to the lingering effects of drought on cereal crops such as wheat. In addition, the non-agricultural sector expanded at a slower pace (3% vs 3.3%), hampered by fisheries (-1.3% vs 5.1%); manufacturing (1.9% vs 2.5%); utilities (11.3% vs 20.9%); internal trade (2.9% vs 3.3%); finance & insurance (1.2% vs 2.9%) and business services (3.8% vs 4%). In contrast, growth quickened in construction (1.3% vs 1.2%); transportation (3.2% vs 2.9%); post & telecommunications (1.9% vs 1.5%); public administration (4.4% vs 3.6%) and education, health & social care (1.6% vs 0.6%).

GDP Annual Growth Rate in Morocco averaged 4.05 percent from 1999 until 2019, reaching an all time high of 9.30 percent in the second quarter of 2006 and a record low of 0.50 percent in the fourth quarter of 1999. 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. source: Haut Commissariat au Plan

GDP Annual Growth Rate in Morocco is expected to be 3.10 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 3.80 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.50 percent in 2020, according to our econometric models.


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Morocco GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.10 2.20 9.30 0.50 1999 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-04-02 11:05 AM Q4 2.9% 3% 2.7%
2019-07-01 09:55 AM Q1 2.8% 2.9% 2.5%
2019-10-01 12:55 PM Q2 2.5% 2.8% 2.6%
2020-01-02 11:10 AM Q3 2.1% 2.2% 2.3%
2020-04-02 09:55 AM Q4 2.1% 2.6%
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News Stream
2019-10-01
Morocco GDP Annual Growth Slows to 2.5% in Q2
The gross domestic product of Morocco advanced 2.5% from a year earlier in the second quarter of 2019, following a 2.8% growth in the previous period. Output expanded at a softer pace in the non-agricultural sector, namely wholesale & retail trade (3.3% vs 3.8% in Q1); post & telecommunications (1.5% vs 2.3%); business and personal services (4% vs 4.5%); fisheries (5.1% vs 18.4%) and utilities (20.9% vs 23.5%). In addition, mining activity contracted (-1.2% vs 5.6%). Conversely, hotels & restaurants expanded faster (4.7% vs 3.4%) while growth stabilised in manufacturing (at 2.5%) and transport services (at 2.9%). Meantime, the agricultural sector continued to decline (-2.8% vs -3.2%), reflecting negative effects of persistent drought conditions.

2019-07-01
Morocco GDP Annual Growth Rate at 2.8% in Q1
The economy of Morocco advanced 2.8% from a year earlier in the first quarter of 2019, following a 2.9% expansion in the previous period. Output rose at slower pace for wholesale & retail trade (3.8% vs 4.5% in Q4); finance & insurance (2.5% vs 3.9%); post and telecommunications (2.3% vs 2.7%) and manufacturing (2.5% vs 3.9%). In addition, agricultural activity declined (-3.2% vs 3.5%), mainly weighed down by drought conditions. In contrast, faster growth was seen for business and personal services (4.5% vs 3%); utilities (23.5% vs 7%); transport (2.9% vs 1.7%); mining (5.6% vs 0.3%) and construction (1.5% vs 0.4%). Also, output rebounded sharply for fishing (18.4% vs -13.5%).

2019-04-02
Morocco GDP Annual Growth Rate at 2.9% in Q4
The economy of Morocco advanced 2.9% year-on-year in the fourth quarter of 2018, following a 3% expansion in the previous period. Softer gains were recorded in hotels & restaurants (5.9% vs 11.9% in Q3); business and personal services (3% vs 3.7%); transportation (1.7% vs 5.5%); mining (0.3% vs 19.9%); construction (0.4% vs 1.9%) and agriculture (3.5% vs 13.6%). In addition, output declined for fishing (-15.7% vs 6.8%). On the other hand, faster growth was seen in internal trade (4.5% vs 2.2%); finance & insurance (3.9% vs 2.1%); post and telecommunications (2.7% vs 0.5%); manufacturing (3.9% vs 3.2%) and utilities (7% vs 6.8%). On a quarterly basis, the GDP rose 2.6 percent after a 1.8 percent advance in the third quarter.


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.

Morocco GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 -2.30 9.30 -3.80 percent [+]
GDP Annual Growth Rate 2.10 2.20 9.30 0.50 percent [+]
GDP 118.50 109.71 118.50 2.03 USD Billion [+]
GDP Constant Prices 250980.00 248366.00 252030.90 158924.80 MAD Million [+]
Gross Fixed Capital Formation 314963.00 302226.00 314963.00 690.00 MAD Million [+]
GDP per capita 3357.40 3302.90 3357.40 815.40 USD [+]
GDP From Agriculture 29787.00 31812.00 32315.30 15878.60 MAD Million [+]
GDP From Construction 12148.00 11916.00 12148.00 5702.00 MAD Million [+]
Gdp From Manufacturing 33043.00 34034.00 35117.70 23979.80 MAD Million [+]
GDP From Mining 3811.00 3594.00 4062.00 1633.10 MAD Million [+]
GDP From Public Administration 20791.00 20779.00 20791.00 9822.00 MAD Million [+]
GDP From Services 30666.00 30355.00 30666.00 14080.00 MAD Million [+]
GDP From Transport 9558.00 9250.00 9558.00 6177.00 MAD Million [+]
GDP From Utilities 5931.00 6054.00 6205.00 3135.30 MAD Million [+]