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.