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Morocco

Headline economic indicators for Morocco, with the most recent official readings.

Prices

Prices — Morocco
Indicator Value Change
Inflation rate · 0.7% -0.28 (-28.8%)
Consumer price index · 130.5 +0.91 (+0.7%)
House price index (quarterly) · 102.3 +1.05 (+1.0%)
House price inflation, year on year (quarterly) · 0.9% +1.03 (+1,099.8%)
Real house price index (quarterly) · 78.0 +0.33 (+0.4%)
Real house price growth, year on year (quarterly) · -0.1% -0.17 (-368.2%)
GDP deflator inflation · 2.1% -1.87 (-47.0%)

GDP

GDP — Morocco
Indicator Value Change
GDP growth rate · 4.6% +0.80 (+21.1%)
GDP per capita · 4,672.47 +519.27 (+12.5%)
GDP per capita, long-run history · 8,400 +8.83 (+0.1%)
GDP · 182,374,250,612.28 +21,763,256,558 (+13.6%)
GDP, PPP · 433,708,561,693 +30,353,301,764 (+7.5%)
GDP per capita, PPP · 11,112 +681.46 (+6.5%)
GDP per capita growth · 3.6% +0.86 (+30.8%)
GNI per capita · 4,360 +520.00 (+13.5%)
Agriculture to GDP · 10.5% -0.02 (-0.2%)
Industry to GDP · 25.2% -0.39 (-1.5%)
Manufacturing to GDP · 14.9% -0.33 (-2.2%)
Services to GDP · 52.3% -0.42 (-0.8%)
Household consumption to GDP · 59.3% -0.90 (-1.5%)
Gross capital formation to GDP · 31.9% +1.80 (+6.0%)
Gross savings to GDP · 29.4% +0.52 (+1.8%)

Labour

Labour — Morocco
Indicator Value Change
Unemployment rate · 9.0% -0.10 (-1.1%)
Labour force participation rate · 43.9% -0.19 (-0.4%)
Female labour force participation rate · 19.7% -0.13 (-0.7%)
Youth unemployment rate · 21.9% -0.49 (-2.2%)
Employment to population ratio · 40.0% -0.12 (-0.3%)
Employment in agriculture · 27.9% -0.38 (-1.3%)
Employment in industry · 23.8% +0.19 (+0.8%)
Employment in services · 48.3% +0.18 (+0.4%)

Money

Money — Morocco
Indicator Value Change
Central bank policy rate · 2.3% -0.25 (-10.0%)
Real effective exchange rate (monthly) · 93.5 -1.81 (-1.9%)
Nominal effective exchange rate (monthly) · 114.2 -1.79 (-1.5%)
Broad money to GDP · 121.3% +2.80 (+2.4%)
Private sector credit to GDP · 79.2% +1.49 (+1.9%)
Bank deposit rate · 2.7% -0.17 (-5.8%)
Stock market capitalization to GDP · 62.5% +16.15 (+34.8%)
Bank nonperforming loans · 8.2% -0.30 (-3.5%)
Official exchange rate · 9.35 -0.59 (-6.0%)

Trade

Trade — Morocco
Indicator Value Change
Current account to GDP · -2.5% -1.27 (-103.0%)
Exports to GDP · 42.0% -0.03 (-0.1%)
Imports to GDP · 51.1% +0.94 (+1.9%)
Trade to GDP · 93.1% +0.91 (+1.0%)
Exports of goods and services · 76,541,039,367.72 +9,086,793,614 (+13.5%)
Imports of goods and services · 93,252,409,526.97 +12,643,805,327 (+15.7%)
Trade balance, goods and services (annual) · -16,507,083,622.22 -3,403,497,433 (-26.0%)
Current account balance (annual) · -4,555,858,719.93 -2,579,185,343 (-130.5%)
Foreign direct investment to GDP · 1.8% +0.73 (+67.2%)
Remittances received to GDP · 7.5% -0.30 (-3.9%)
Total reserves, including gold · 48,453,629,604.88 +11,319,721,882 (+30.5%)
Reserves in months of imports · 5.9 +0.67 (+12.6%)
External debt to GNI · 44.7% -4.20 (-8.6%)

Government

Government — Morocco
Indicator Value Change
Government debt to GDP · 51.2% +4.13 (+8.8%)
Government revenue to GDP · 25.7% -0.47 (-1.8%)
Government expense to GDP · 26.6% -1.53 (-5.4%)
Tax revenue to GDP · 22.7% +1.94 (+9.3%)
Government budget balance to GDP · -4.0% +0.40 (+9.2%)
Government consumption to GDP · 18.0% +0.07 (+0.4%)
Education spending to GDP · 6.0% +0.11 (+1.8%)
Health spending to GDP · 6.1% +0.31 (+5.4%)

Demography

Demography — Morocco
Indicator Value Change
Population · 38,430,770 +349,597 (+0.9%)
Population, long-run history · 37,101 +377.76 (+1.0%)
Population growth · 0.9% -0.06 (-6.1%)
Life expectancy · 75.5 +0.18 (+0.2%)
Fertility rate · 2.21 -0.02 (-1.0%)
Birth rate · 16.4 -0.30 (-1.8%)
Death rate · 5.7 +0.09 (+1.6%)
Urban population share · 63.1% +0.33 (+0.5%)
Population aged 65 and over · 8.5% +0.31 (+3.8%)
Under-five mortality rate · 15.7 -0.60 (-3.7%)
Population density · 85.3 +0.83 (+1.0%)
Net migration · -56,254 -9,452 (-20.2%)
Gini index · 39.5 -1.20 (-2.9%)

Source: Bank for International Settlements (BIS). Translated titles are not official BIS translations.

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Morocco; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.