Morocco's GDP grew by 0.5% year-on-year in Q4 2022, compared with a 7.6% advance in the same period last year. The expansion was driven by external demand in a context of high inflation and an improvement of the national economy's need for financing. The agricultural sector contracted by 15.1%, compared with a 17.8% expansion last year and fishing activities slowed to 12.3% from 53.4%. Also, industrial activities shrank by 2.4%, after rising 5.4%, particularly due to a fall in mining (-16% vs -1.5%) and a slowdown in manufacturing (4.6% vs 6.8%), construction (4.6% vs 6.8%) and utilities (4.5% vs 7%). Meanwhile, the services sector grew 0.4%, less than 5.1% a year earlier, due to a slowdown in transportation & warehousing (7.1% vs 16.1%); financial services & insurance (5.5% vs 5.9%); education, health (3.1% vs 3.5%); services rendered by general public administration (3% vs 3.7%); R&D (2% vs 8.5%); real estate (1.6% vs 3.1%) and trade & repair of vehicles (1.1 vs 7.3%). source: Haut Commissariat au Plan
GDP Annual Growth Rate in Morocco averaged 3.53 percent from 1999 until 2022, reaching an all time high of 14.20 percent in the second quarter of 2021 and a record low of -15.20 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 June of 2023.
GDP Annual Growth Rate in Morocco is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.50 percent in 2024 and 3.70 percent in 2025, according to our econometric models.