Markets Actual Q2 Q3 Q4 Q1 2023
Stock Market (points) 12564.55 12417 12211 12008 11808 11420
Currency 9.97 10.06 10.1 10.14 10.18 10.27

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) 6.60 3.5 2 1.7 2.1 3
Unemployment Rate (%) 12.10 11.8 12 11.5 11.8 10.5
Inflation Rate (%) 5.90 6.5 6 4.7 3.5 2.7
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.25
Balance of Trade (MAD Million) -26593.00 -15800 -15500 -15500 -15500 -14550
Current Account (MAD Million) -4205.60 -4500 1300 -5000 -5000 -8000
Current Account to GDP (% of GDP) -2.60 -5.5 -5.5 -5.5 -3.7 -3.7
Government Debt to GDP (% of GDP) 76.40 77 77 77 77 75
Government Budget (% of GDP) -6.90 -6.3 -6.3 -6.3 -5.9 -5.9
Consumer Confidence (points) 53.70 72 74 74 74 76
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38

GDP Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) 6.60 3.5 2 1.7 2.1 3
GDP (USD Billion) 112.87 117 117 122 122 122
GDP Constant Prices (MAD Million) 259741.80 256157 258959 264157 265196 272082
Gross Fixed Capital Formation (MAD Million) 288162.00 298248 293925 293061 294213 301853
GDP per capita (USD) 3126.96 3240 3350 3350 3350 3350
GDP From Agriculture (MAD Million) 31610.10 34096 32229 32147 32274 33112
GDP From Construction (MAD Million) 12688.60 13294 13538 12904 12955 13291
GDP From Mining (MAD Million) 4224.00 3957 4267 4296 4313 4425
GDP From Public Administration (MAD Million) 22050.10 22963 23164 22425 22513 23098
GDP From Services (MAD Million) 31646.10 33988 32254 32184 32311 33150
GDP From Transport (MAD Million) 8006.10 5648 7235 8142 8174 8386
GDP From Utilities (MAD Million) 6216.80 6318 6283 6322 6347 6512

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 12.10 11.8 12 11.5 11.8 10.5
Employed Persons (Thousand ) 10697.00 11000 11020 11000 11000 11300
Unemployed Persons (Thousand ) 1466.00 1650 1660 1600 1600 1350
Population (Million) 35.95 36.1 36.1 36.4 36.4 36.4
Youth Unemployment Rate (%) 33.40 31 30.3 31 31 30
Employment Rate (%) 39.10 38.5 38 37.5 38 39

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 5.90 6.5 6 4.7 3.5 2.7
Consumer Price Index CPI (points) 109.90 110 111 110 112 113
Producer Prices (points) 114.80 107 107 107 107 107
Food Inflation (%) 9.40 10 8 6 4.5 3.5
Inflation Rate Mom (%) 1.80 0.6 0.4 0.3 0.2 0.2
Core Inflation Rate (%) 4.40 1.7 1.5 1.3 1 0.8
CPI Transportation (points) 118.10 119 119 120 120 120

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.25
Money Supply M1 (MAD Million) 1093694.00 990000 990000 985000 985000 950000
Money Supply M2 (MAD Million) 1268816.00 1245000 1245000 1245000 1245000 1260000
Money Supply M3 (MAD Million) 1580271.00 1540000 1542000 1550000 1550000 1560000
Banks Balance Sheet (MAD Million) 1593747.00 1690000 1680000 1700000 1700000 1715000
Foreign Exchange Reserves (MAD Million) 332673.00 305000 306000 306000 306000 315000
Deposit Interest Rate (%) 2.60 2.6 2.6 2.6 2.6 2.35
Central Bank Balance Sheet (MAD Million) 418216.00 440000 460000 450000 450000 435000

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (MAD Million) -26593.00 -15800 -15500 -15500 -15500 -14550
Current Account (MAD Million) -4205.60 -4500 1300 -5000 -5000 -8000
Current Account to GDP (% of GDP) -2.60 -5.5 -5.5 -5.5 -3.7 -3.7
Imports (MAD Million) 63501.00 41800 42000 42000 42000 41050
Exports (MAD Million) 36908.00 26000 26500 26500 26500 26500
Capital Flows (MAD Million) -8986.00 -4000 2500 -3500 6000 -5000
Tourist Arrivals 7250000.00 10200000 10200000 10200000 10200000 11000000
Foreign Direct Investment (MAD Million) 6489.00 9000 12000 12000 10000 8500
External Debt (MAD Million) 602573.19 605000 625000 625000 625000 700000

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 76.40 77 77 77 77 75
Government Budget (% of GDP) -6.90 -6.3 -6.3 -6.3 -5.9 -5.9
Government Spending (MAD Million) 227440.00 235400 231989 231306 232216 238246
Military Expenditure (USD Million) 4794.00 3450 3450 3470 3470 3470

Taxes Actual Q2 Q3 Q4 Q1 2023
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate For Companies (%) 21.09 21.09 21.09 21.09 21.09 21.09

Business Actual Q2 Q3 Q4 Q1 2023
Industrial Production (%) 5.10 4.5 4 5 3.5 4.3
Mining Production (%) 5.80 2.8 3 3 3 3

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) 53.70 72 74 74 74 76
Consumer Spending (MAD Million) 628081.00 650064 640643 638758 641271 657921


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Morocco Forecast - was last updated on Tuesday, May 24, 2022.