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.