The economy of Morocco expanded 3.0 percent year-on-year in the third quarter of 2018, following a 2.4 percent growth in the previous period. Output advanced further in the primary sector (4.1 percent from 1.7 percent in Q2), mainly due to fishing (6.8 percent from -13.3 percent); and the secondary sector (3.0 percent from 2.0 percent), namely manufacturing (2.9 percent from 2.7 percent), electricity and water (7.5 percent from 3.1 percent) and mining (4.0 percent from -1.1 percent). Additionally, output growth was unchanged in the services sector (2.9 percent, the same pace as in Q2), mostly due to internal trade (4.4 percent from 4.2 percent), public administration (3.2 percent from 3.1 percent) and financial and insurance services (2.4 percent from 2.0 percent). GDP Annual Growth Rate in Morocco averaged 4.06 percent from 1999 until 2018, reaching an all time high of 9.30 percent in the second quarter of 2006 and a record low of 0.50 percent in the fourth quarter of 1999.
GDP Annual Growth Rate in Morocco is expected to be 2.50 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 2.70 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 4.20 percent in 2020, according to our econometric models.