Markets Actual Q2 Q3 Q4 Q1 2023
Stock Market (points) 12058.00 11807 11603 11402 11205 10821
Currency 10.16 10.11 10.19 10.28 10.37 10.55

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) 6.60 1.3 0.7 1 2.5 4
Unemployment Rate (%) 12.10 12.5 12.7 12 11.8 11
Inflation Rate (%) 5.90 6 5.7 5.3 3.5 2
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.25
Balance of Trade (MAD Million) -26240.00 -15800 -15500 -15500 -15500 -14550
Current Account (MAD Million) -4205.60 -4500 1300 -5000 -5000 -8000
Current Account to GDP (% of GDP) -2.30 -4.9 -4.9 -4.9 -3.8 -3.8
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 1.3 0.7 1 2.5 4
GDP (USD Billion) 112.87 117 117 122 122 122
GDP Constant Prices (MAD Million) 259741.80 250712 255659 262339 266235 272833
Gross Fixed Capital Formation (MAD Million) 346877.00 291908 290179 350346 355549 364360
GDP per capita (USD) 3126.96 3240 3350 3350 3350 3350
GDP From Agriculture (MAD Million) 31610.10 33371 31818 31926 32400 33203
GDP From Construction (MAD Million) 12688.60 13011 13366 12815 13006 13328
GDP From Mining (MAD Million) 4224.00 3873 4213 4266 4330 4437
GDP From Public Administration (MAD Million) 22050.10 22474 22869 22271 22601 23161
GDP From Services (MAD Million) 31646.10 33265 31843 31963 32437 33241
GDP From Transport (MAD Million) 8006.10 5528 7143 8086 8206 8410
GDP From Utilities (MAD Million) 6216.80 6183 6203 6279 6372 6530

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 12.10 12.5 12.7 12 11.8 11
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 5.7 5.3 3.5 2
Consumer Price Index CPI (points) 110.20 110 110 111 112 113
Producer Prices (points) 116.10 107 107 107 107 107
Food Inflation (%) 8.60 9.3 8 6 4.5 3.5
Inflation Rate Mom (%) 0.30 0.6 0.4 0.3 0.2 0.2
Core Inflation Rate (%) 5.60 1.7 1.5 1.3 1 0.8
CPI Transportation (points) 119.70 120 121 121 122 122

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) 1094508.00 990000 990000 985000 985000 950000
Money Supply M2 (MAD Million) 1270570.00 1245000 1245000 1245000 1245000 1260000
Money Supply M3 (MAD Million) 1573757.00 1540000 1542000 1550000 1550000 1560000
Banks Balance Sheet (MAD Million) 1593747.00 1690000 1680000 1700000 1700000 1715000
Foreign Exchange Reserves (MAD Million) 329165.00 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) -26240.00 -15800 -15500 -15500 -15500 -14550
Current Account (MAD Million) -4205.60 -4500 1300 -5000 -5000 -8000
Current Account to GDP (% of GDP) -2.30 -4.9 -4.9 -4.9 -3.8 -3.8
Imports (MAD Million) 64482.00 41800 42000 42000 42000 41050
Exports (MAD Million) 38242.00 26000 26500 26500 26500 26500
Capital Flows (MAD Million) -8986.00 -4000 2500 -3500 6000 -5000
Tourist Arrivals 4000000.00 8000000 8000000 8000000 10500000 10500000
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) 238486.00 230397 229032 240871 244448 250506
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 (%) -2.30 4.5 4 5 3.5 4.3
Mining Production (%) -10.10 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) 754704.00 636246 632478 762251 773572 792741


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 Wednesday, June 29, 2022.