The economy of Morocco advanced by just 0.3% year-on-year in the first quarter of 2022, following a 6.6% rise in the previous three-month period. It marks the weakest pace of growth since a contraction was observed in the last quarter of 2020, as drought conditions drove a 14.3% plunge in the agricultural sector. Meanwhile, the non-agricultural sector expanded by 2.5% as strong performance in hotels & restaurants (25.3%) and transport & storage (5.7%) more than offset declines in fisheries (-.7.3%), mining (-4.8%) and manufacturing (-2.4%). source: Haut Commissariat au Plan

GDP Annual Growth Rate in Morocco averaged 3.59 percent from 1999 until 2022, reaching an all time high of 15.20 percent in the second quarter of 2021 and a record low of -14.20 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 July of 2022.

GDP Annual Growth Rate in Morocco is expected to be 0.70 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 4.00 percent in 2023 and 3.50 percent in 2024, according to our econometric models.

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Morocco GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-01 09:00 AM Q4 6.6% 7.8% 6.5%
2022-07-01 01:00 PM Q1 0.3% 6.6% 2.5%
2022-09-30 09:00 AM Q2 0.3% 0.5%


Related Last Previous Unit Reference
GDP Growth Rate 1.10 0.90 percent Sep 2019
GDP Annual Growth Rate 0.30 6.60 percent Mar 2022
GDP Constant Prices 292065.00 259741.80 MAD Million Mar 2022
Gross Fixed Capital Formation 346877.00 288162.00 MAD Million Dec 2021
GDP From Public Administration 31644.00 22050.10 MAD Million Mar 2022
GDP From Mining 6392.00 4224.00 MAD Million Mar 2022
Gdp From Manufacturing 41356.00 37214.00 MAD Million Mar 2022
GDP From Construction 17025.00 12688.60 MAD Million Mar 2022
GDP From Agriculture 26351.00 31610.10 MAD Million Mar 2022
GDP From Utilities 8824.00 6216.80 MAD Million Mar 2022
GDP From Transport 7869.00 8006.10 MAD Million Mar 2022
GDP From Services 31646.10 31621.30 MAD Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.30 6.60 15.20 -14.20 1999 - 2022 percent Quarterly

News Stream
Morocco GDP Growth Slows Sharply in Q1
The economy of Morocco advanced by just 0.3% year-on-year in the first quarter of 2022, following a 6.6% rise in the previous three-month period. It marks the weakest pace of growth since a contraction was observed in the last quarter of 2020, as drought conditions drove a 14.3% plunge in the agricultural sector. Meanwhile, the non-agricultural sector expanded by 2.5% as strong performance in hotels & restaurants (25.3%) and transport & storage (5.7%) more than offset declines in fisheries (-.7.3%), mining (-4.8%) and manufacturing (-2.4%).
2022-07-04
Morocco Economic Recovery Continues
The gross domestic product of Morocco advanced by 6.6% year-on-year in the fourth quarter of 2021, following a 7.8% rise in the previous three-month period. It marks the fourth consecutive quarter of economic expansion, after a pandemic-induced recession, driven by an 18.9% surge in agricultural activity amid better weather conditions. At the same time, the non-agricultural sector grew 5.6%, mainly boosted by hotels & restaurants (44%), internal trade (11.8%), utilities (6.9%), construction (6.4%) and transportation (5.5%).
2022-04-01
Morocco Economy Expands 7.8% YoY in Q3
Morocco’s gross domestic product grew by 7.8 percent year-on-year in the third quarter of 2021, slowing from a 15.2 percent growth in the previous three-month period. Still, it was the third consecutive quarter of expansion driven by a notable 17.7 percent rise in agricultural activity and a 6.4 percent growth in the non-agricultural sector, in particular hotels & restaurants (70.2%). Other significant contributions to the GDP came from transport services (13.7%), trade (12%), construction (17.6%), mining (5.6%) and manufacturing (4%).
2022-01-04