Morocco's gross domestic product shrank 6% year-on-year in the fourth quarter of 2020, less than a 7.2% decline in the previous period. It was the third consecutive quarter of economic contraction amid protracted containment measures to curb the Covid-19 pandemic. The agricultural sector shrank by 7.3% (vs -8.6% in Q3) and the non-agricultural sector fell by 5.5% (vs -6.7%), in particular hotels & restaurants (-57.1% vs -65.2%); transportation services (-18.6% vs -32.8%) and trade (-6.7% vs -11.7%). Considering the full year of 2020, the economy slumped 7.1%. source: Haut Commissariat au Plan
GDP Annual Growth Rate in Morocco averaged 3.36 percent from 1999 until 2020, reaching an all time high of 9.30 percent in the second quarter of 2006 and a record low of -14.90 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 May of 2021.
GDP Annual Growth Rate in Morocco is expected to be 9.10 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 2.30 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.20 percent in 2022 and 3.50 percent in 2023, according to our econometric models.