Morocco - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Morocco including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Morocco economy.


Overview Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 3.90 4.1 4 4.1 4.2 4.2 percent
Unemployment Rate 10.60 10.5 9.7 10.4 10 9 percent
Inflation Rate 1.90 0.9 1 1.2 1.3 2 percent
Interest Rate 2.25 2.25 2.25 2.25 2 1.75 percent
Balance of Trade -16104.00 -16161 -15870 -15633 -15410 -13335 MAD Million
Government Debt to GDP 64.70 67 67 67 67 70 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 9.16
9.35 9.45 9.56 9.66 10.11
Stock Market 13161.41
points
12641 12348 12064 11785 9776
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 3.90
percent
4.1 4 4.1 4.2 4.2
GDP Annual Growth Rate 3.90
percent
3.5 3 4.1 3.1 5.5
GDP 101.45
USD Billion
100 100 100 100 85.4
GDP Constant Prices 239277.20
MAD Million
240719 240550 240352 240069 238019
Gross Fixed Capital Formation 306910.00
MAD Million
295812 304770 313728 322685 356082
GDP per capita 3196.00
USD
3240 3249 3258 3267 3314
GDP per capita PPP 7265.80
USD
7340 7368 7396 7424 7373
Gdp From Agriculture 30520.10
MAD Million
29165 28886 28634 28393 26934
Gdp From Construction 11959.00
MAD Million
11472 11575 11659 11515 11212
Gdp From Mining 3646.80
MAD Million
3240 3029 2909 2870 3076
Gdp From Public Administration 19085.70
MAD Million
19007 18921 18846 18760 18131
Gdp From Services 28525.80
MAD Million
28442 28383 28257 28129 27066
Gdp From Transport 9208.20
MAD Million
9253 9186 9221 9177 8993
Gdp From Utilities 4977.70
MAD Million
4837 4801 4773 4751 4687
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 10.60
percent
10.5 9.7 10.4 10 9
Employed Persons 10403.00
Thousand
10747 10826 10533 10589 10623
Unemployed Persons 1236.00
Thousand
1253 1189 1220 1217 1223
Population 34.70
Million
35.8 35.8 35.8 35.8 36.8
Employment Rate 40.70
percent
43.13 46.28 41.18 42.52 43.3
Youth Unemployment Rate 29.30
percent
25.86 24.31 26.97 24.91 24.83
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 1.90
percent
0.9 1 1.2 1.3 2
Consumer Price Index CPI 119.70
Index Points
119 119 119 119 119
Producer Prices 107.40
Index Points
107 106 105 105 103
Food Inflation 2.70
percent
1.72 1.42 1.31 1.26 1.24
Inflation Rate Mom 0.50
percent
0.04 0.19 0.09 0.14 0.13
CPI Transportation 111.30
Index Points
111 111 110 110 108
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 2.25
percent
2.25 2.25 2.25 2 1.75
Money Supply M1 810196.00
MAD Million
814416 815123 815061 814842 811850
Money Supply M2 964089.00
MAD Million
972361 975404 976394 976581 973014
Money Supply M3 1272096.00
MAD Million
1286153 1292468 1294947 1295708 1290993
Foreign Exchange Reserves 244286.00
MAD Million
244504 243658 243013 242364 234987
Banks Balance Sheet 1288142.00
MAD Million
1287208 1286293 1285372 1284449 1273479
Deposit Interest Rate 3.50
percent
3.74 3.64 3.53 3.43 3.67
Central Bank Balance Sheet 294975.00
MAD Million
294002 293606 293236 292869 288591
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -16104.00
MAD Million
-16161 -15870 -15633 -15410 -13335
Exports 21108.00
MAD Million
20642 20370 20098 19836 17241
Imports 37212.00
MAD Million
37162 36873 36575 36283 33184
Current Account -24152.60
MAD Million
-11834 -20870 -9826 -17004 -14406
Current Account to GDP -4.20
percent
-3.2 -3.2 -3.62 -3.2 -2.5
Capital Flows -20786.40
MAD Million
-6966 -11148 -6314 -8317 -851
Tourist Arrivals 10331731.00
10402200 10374300 10346400 10318500 9506800
Gold Reserves 22.05
Tonnes
22.04 22.04 22.04 22.04 22.04
Terrorism Index 0.08
1.87 1.81 1.75 1.69 1.92
Crude Oil Production 0.20
BBL/D/1K
0.2 0.2 0.2 0.2 0.2
Foreign Direct Investment 9264.00
MAD Million
6064 5903 5473 5651 5328
External Debt 476476.78
MAD Million
469821 465324 460928 456339 418741
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 64.70
percent
67 67 67 67 70
Government Budget -4.10
percent of GDP
-3.2 -3.2 -3.2 -3.2 -3.3
Government Spending 195598.00
MAD Million
201207 203415 205624 207832 231104
Military Expenditure 3292.60
USD Million
3295 3294 3293 3292 3145
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Industrial Production 1.90
percent
2.36 2.54 2.67 1.41 1.87
Changes in Inventories 29014.00
MAD Million
18460 19999 21538 23077 18233
Internet Speed 5168.47
KBps
5212 5169 5088 5014 4192
IP Addresses 3732705.00
IP
3571580 3556926 3515296 3503099 3126307
Steel Production 45.00
Thousand Tonnes
39.12 38.99 38.97 38.96 38.96
Competitiveness Index 4.24
Points
4.22 4.22 4.22 4.22 4.18
Competitiveness Rank 71.00
70 70 70 70 72
Ease of Doing Business 69.00
70 71 71 72 87
Corruption Index 37.00
Points
35 35 35 35 35
Corruption Rank 90.00
88 87 85 84 75
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence 85.90
Index Points
84.92 83.11 81.56 80.42 79.44
Consumer Spending 582809.00
MAD Million
585312 588154 590997 593839 582468
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 31.00
percent
31 31 31 31 32
Personal Income Tax Rate 38.00
percent
38 38 38 38 39
Sales Tax Rate 20.00
percent
20 20 20 20 20
Social Security Rate For Companies 18.50
percent
18.31 18.31 18.31 18.31 17.99
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Precipitation 2.47
mm
40.86 21.75 7.2 39.06 27.84
Temperature 12.55
celsius
11.71 19.55 25.23 14.15 18.06