Morocco’s gross domestic product expanded by 15.2% year-on-year in the second quarter of 2021, after a 1% rise in the previous period. It was the strongest economic growth since available records began in 2001, helped by a low base year effect linked to the Covid-19 shock and associated restrictions and as the economy gradually recovers. The expansion was driven by strong performance in both agricultural (18.6% vs 20.5% in Q1) and non-agricultural activities (14.8% vs -1.4%), in particular hotels & restaurants (82.1% vs -50.3%) and transportation services (42.5% vs -10.9%). source: Haut Commissariat au Plan

GDP Annual Growth Rate in Morocco averaged 3.51 percent from 1999 until 2021, reaching an all time high of 15.20 percent in the second quarter of 2021 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 October of 2021.

GDP Annual Growth Rate in Morocco is expected to be 6.20 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 4.50 percent in 2022 and 3.60 percent in 2023, according to our econometric models.

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Morocco GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
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 09:00 AM Q2 15.2% 1% 18%


News Stream
Morocco GDP Sees Record Growth in Q2
Morocco’s gross domestic product expanded by 15.2% year-on-year in the second quarter of 2021, after a 1% rise in the previous period. It was the strongest economic growth since available records began in 2001, helped by a low base year effect linked to the Covid-19 shock and associated restrictions and as the economy gradually recovers. The expansion was driven by strong performance in both agricultural (18.6% vs 20.5% in Q1) and non-agricultural activities (14.8% vs -1.4%), in particular hotels & restaurants (82.1% vs -50.3%) and transportation services (42.5% vs -10.9%).
2021-10-01
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 Last Unit Reference Previous Highest Lowest
GDP Growth Rate 1.10 percent Sep/19 0.90 9.30 -3.80
GDP Annual Growth Rate 15.20 percent Jun/21 1.00 15.20 -14.90
GDP Constant Prices 247495.00 MAD Million Jun/21 251867.00 257968.00 158924.80
Gross Fixed Capital Formation 288162.00 MAD Million Dec/20 318567.00 318567.00 690.00
GDP From Utilities 6104.00 MAD Million Jun/21 5998.00 6117.60 3135.30
GDP From Transport 5457.00 MAD Million Jun/21 7767.00 9932.20 3829.00
GDP From Services 32838.00 MAD Million Jun/21 32712.00 32838.00 14080.00
GDP From Public Administration 22186.00 MAD Million Jun/21 21916.00 30969.00 9822.00
GDP From Mining 3823.00 MAD Million Jun/21 4232.00 4314.00 1633.10
Gdp From Manufacturing 33446.00 MAD Million Jun/21 35497.00 36170.00 23979.80
GDP From Construction 12844.00 MAD Million Jun/21 12773.00 12844.00 5702.00
GDP From Agriculture 32943.00 MAD Million Jun/21 33160.00 33160.00 15878.60


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.