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%). GDP Annual Growth Rate in Morocco averaged 4.12 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.
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 2.80 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.40 percent in 2020, according to our econometric models.