Markets Actual Q4 Q1 Q2 Q3 2022
Stock Market (points) 13099.49 13043 12867 12692 12522 12186
Currency 9.25 9.27 9.3 9.33 9.36 9.43

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Annual Growth Rate (%) 15.20 6.2 5.6 2.3 4 4.5
Unemployment Rate (%) 11.80 12 11.7 11.5 12 11.5
Inflation Rate (%) 1.70 1.2 1 1.3 1.5 1.6
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.5
Balance of Trade (MAD Million) -15399.00 -18400 -17400 -15800 -15500 -15500
Current Account (MAD Million) -20546.60 -12000 -9000 -4500 1300 -5000
Current Account to GDP (% of GDP) -1.50 -2.8 -1.6 -1.6 -1.6 -1.6
Government Debt to GDP (% of GDP) 76.40 75 77 77 77 77
Government Budget (% of GDP) -7.60 -7.3 -6.8 -6.8 -6.8 -6.8
Consumer Confidence (points) 65.50 68 70 72 74 74
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Annual Growth Rate (%) 15.20 6.2 5.6 2.3 4 4.5
GDP (USD Billion) 112.87 117 117 117 117 122
GDP Constant Prices (MAD Million) 247495.00 257599 265972 253187 257395 269191
Gross Fixed Capital Formation (MAD Million) 288162.00 306028 304299 294790 299688 319799
GDP per capita (USD) 3126.96 3240 3240 3240 3350 3350
GDP From Agriculture (MAD Million) 32943.00 28447 35017 33701 34261 29727
GDP From Construction (MAD Million) 12844.00 11988 13488 13139 13358 12527
GDP From Mining (MAD Million) 3823.00 4581 4469 3911 3976 4788
GDP From Public Administration (MAD Million) 22186.00 32889 23143 22696 23073 34369
GDP From Services (MAD Million) 32838.00 30664 34544 33593 34152 32044
GDP From Transport (MAD Million) 5457.00 8519 8202 5583 5675 8903
GDP From Utilities (MAD Million) 6104.00 6122 6334 6244 6348 6398

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 11.80 12 11.7 11.5 12 11.5
Employed Persons (Thousand ) 10807.00 10800 10840 11000 11020 11000
Unemployed Persons (Thousand ) 1447.00 1550 1610 1650 1660 1600
Population (Million) 35.95 36.1 36.1 36.1 36.1 36.4
Employment Rate (%) 39.80 41 40.8 39.5 41 41.2
Youth Unemployment Rate (%) 31.00 29.7 30.8 31 30.3 31

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 1.70 1.2 1 1.3 1.5 1.6
Consumer Price Index CPI (points) 105.20 104 104 105 106 105
Producer Prices (points) 106.50 107 107 107 107 107
Food Inflation (%) 1.10 2.5 2 1.7 1.3 1.4
Inflation Rate Mom (%) 0.70 0.5 0.4 0.4 0.3 0.3
Core Inflation Rate (%) 2.70 1.6 1.3 0.9 1.2 1.3
CPI Transportation (points) 108.50 109 109 110 110 111

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.5
Money Supply M1 (MAD Million) 1058414.00 1005000 994000 990000 990000 985000
Money Supply M2 (MAD Million) 1231798.00 1170000 1160000 1155000 1155000 1120000
Money Supply M3 (MAD Million) 1550483.00 1475000 1450000 1438000 1438000 1440000
Banks Balance Sheet (MAD Million) 1593515.00 1650000 1675000 1690000 1680000 1700000
Foreign Exchange Reserves (MAD Million) 317811.00 304000 307000 305000 306000 306000
Deposit Interest Rate (%) 2.90 3.1 2.9 2.9 2.9 2.9
Central Bank Balance Sheet (MAD Million) 411193.14 415000 430000 440000 460000 450000

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (MAD Million) -15399.00 -18400 -17400 -15800 -15500 -15500
Current Account (MAD Million) -20546.60 -12000 -9000 -4500 1300 -5000
Current Account to GDP (% of GDP) -1.50 -2.8 -1.6 -1.6 -1.6 -1.6
Imports (MAD Million) 44034.00 43500 42700 41800 42000 42000
Exports (MAD Million) 28635.00 25100 25300 26000 26500 26500
Capital Flows (MAD Million) -8986.00 -6400 2000 -4000 2500 -3500
Tourist Arrivals 7250000.00 9300000 10200000 10200000 10200000 10200000
Foreign Direct Investment (MAD Million) 6489.00 10000 6800 9000 12000 12000
External Debt (MAD Million) 577103.88 600000 620000 605000 625000 625000

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 76.40 75 77 77 77 77
Government Budget (% of GDP) -7.60 -7.3 -6.8 -6.8 -6.8 -6.8
Government Spending (MAD Million) 227440.00 241541 240177 232671 236538 252411
Military Expenditure (USD Million) 4794.00 3450 3450 3450 3450 3470

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate For Companies (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q4 Q1 Q2 Q3 2022
Industrial Production (%) 19.90 1.4 1.6 2.4 3 2.6
Mining Production (%) -1.30 4 1.8 2.8 3 3

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 65.50 68 70 72 74 74
Consumer Spending (MAD Million) 628081.00 667022 663254 642527 653204 697038


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Morocco Forecast - was last updated on Monday, November 29, 2021.