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. GDP Annual Growth Rate in Morocco averaged 4.14 percent from 1999 until 2018, 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 2.40 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 3.10 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.60 percent in 2020, according to our econometric models.