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.

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Morocco GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-01-03 02:30 PM Q3 1.6% 2% 2.2%
2023-03-31 04:40 PM Q4 0.5% 1.6% 1.4%
2023-06-30 01:00 PM Q1 0.5% 2.3%


Related Last Previous Unit Reference
GDP Growth Rate 1.10 0.90 percent Sep 2019
GDP Annual Growth Rate 0.50 1.60 percent Dec 2022
GDP Constant Prices 300978.00 301285.00 MAD Million Dec 2022
Gross Fixed Capital Formation 346877.00 288162.00 MAD Million Dec 2021
GDP from Agriculture 24856.00 24850.00 MAD Million Dec 2022
GDP from Public Administration 31933.00 32134.00 MAD Million Dec 2022
GDP from Mining 5616.00 6073.00 MAD Million Dec 2022
GDP from Manufacturing 44162.00 43666.00 MAD Million Dec 2022
GDP from Utilities 8861.70 8904.00 MAD Million Sep 2022
GDP from Transport 9081.70 8410.00 MAD Million Sep 2022
GDP from Services 168815.90 159451.10 MAD Million Sep 2022
GDP from Construction 16490.90 16867.00 MAD Million Sep 2022

Morocco GDP Annual Growth Rate
Morocco is the sixth largest economy in Africa. The Services sector is the most important and accounts for 54 percent to total GDP. The biggest segments within Services are: wholesale and retail trade (9 percent of total GDP); public administration (9 percent); transport (4 percent); and hotels and restaurants (2 percent). Industry accounts for 23 percent of the GDP and the largest segments within this sector are: manufacturing (15 percent of total GDP); construction (5 percent); electricity and water supply (2 percent); and mining (2 percent). The Agriculture sector accounts for 13 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
0.50 1.60 14.20 -15.20 1999 - 2022 percent Quarterly

News Stream
Morocco GDP Annual Growth Slows to 0.5% in Q4
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%).
2023-03-31
Morocco GDP Growth Slows to 1.6% in Q3
The economy of Morocco advanced 1.6 percent year-on-year in the third quarter of 2022, compared with an 8.7 percent growth in the same period last year. The expansion was driven by domestic demand despite stubbornly high inflation and an aggravation of the national economy's need for financing. On the production side, the services output growth eased to 5.7 percent from 8.9 percent a year ago, mainly dragged by a slowdown in transport & storage, research & development and business services, and vehicle trade & repair. In addition, the industrial sector grew at a slower 0.4 percent (vs 5.1 percent in Q3 2021), due to a contraction in mining, construction and utilities output. Agriculture activities shrank 15.1 percent, compared with a 16.6 percent growth a year earlier.
2023-01-03
Morocco GDP Expands Faster in Q2
The economy of Morocco advanced by 2% year-on-year in the second quarter of 2022, accelerating from a 0.3% rise in the previous three-month period. Non-agricultural activities increased by 4.2%, mainly boosted by hotels & restaurants (50.3%); transport & storage (10.8%); public administration (5.6%) and finance & insurance (4.2%). Manufacturing posted a modest gain (2.3%). Meanwhile, the agricultural sector shrunk by 15.5%, amid a persistent drought.
2022-10-03