Morocco’s gross domestic product rebounded to 1% year-on-year in the first quarter of 2021, after a 6.0% contraction in the previous period, as a sharp increase in agricultural activities (20.5% vs -7.3% in Q4) supported the economy's exit from the Covid-19 induced recession. At the same time, the non-agricultural sector shrank at a softer pace (-1.4% vs -5.5%), in particular hotels & restaurants (-50.3% vs -57.1%) and transportation services (-10.9% vs -18.6%). source: Haut Commissariat au Plan

GDP Annual Growth Rate in Morocco averaged 3.33 percent from 1999 until 2021, 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 July of 2021.

GDP Annual Growth Rate in Morocco is expected to be 4.50 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 3.00 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.40 percent in 2022 and 3.60 percent in 2023, according to our econometric models.

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Morocco GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.00 -6.00 9.30 -14.90 1999 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-01 12:30 PM Q2 -14.9% 0.1% -13.5%
2021-01-04 12:30 PM Q3 -7.2% -14.9% -7%
2021-04-02 09:00 AM Q4 -6% -7.2% -5.5%
2021-07-01 02:00 PM Q1 1% -6% -3.2%
2021-10-01 12:30 PM Q2 1%
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News Stream
Morocco Economy Exits Recession in Q1
Morocco’s gross domestic product rebounded to 1% year-on-year in the first quarter of 2021, after a 6.0% contraction in the previous period, as a sharp increase in agricultural activities (20.5% vs -7.3% in Q4) supported the economy's exit from the Covid-19 induced recession. At the same time, the non-agricultural sector shrank at a softer pace (-1.4% vs -5.5%), in particular hotels & restaurants (-50.3% vs -57.1%) and transportation services (-10.9% vs -18.6%).
2021-07-01
Morocco GDP Remains in Contraction in Q4
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%.
2021-04-02
Morocco Economy Contracts Less in Q3
Morocco's gross domestic product slumped 7.2% year-on-year in the third quarter of 2020, softening from a record 14.9% contraction in the previous period, as the economy gradually recovers from the pandemic shock. The non-agricultural sector declined 6.7%, less than a 15.5% plunge in Q2, namely the key tourism sector (-65.2% vs -90%); transportation services (-32.8% vs -55.7%); internal trade (-11.7% vs -26.5%); manufacturing (-2.6% vs -22% and construction (-12.5% vs -17.1%). Meanwhile, poor weather conditions continued to weigh on the agricultural sector (-8.6% vs -6.9%).
2021-01-04
Morocco GDP Shrinks at Record 14.9% YoY in Q2
Morocco's gross domestic product plummeted 14.9% year-on-year in the second quarter of 2020, compared to a 0.1% growth in the previous period. It was the first and sharpest economic contraction on record, amid the full impact of the Covid-19 and related containment measures. The non-agricultural sector was severely hit (-15.5% vs 0.9% in Q1), namely the key tourism sector (-90%); transportation services (-55.7%); internal trade (-26.5%); manufacturing (-22%) and construction (-17.1%). Also, poor weather conditions continued to weigh on the agricultural sector (-6.9% vs -5.2%).
2020-10-01

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.