Morocco | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Morocco including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Morocco economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 4.30 3.53 3.7 4.18 2.54 2.65 percent [+]
Unemployment Rate 9.40 9.2 9.7 9.23 9.8 9 percent [+]
Inflation Rate 0.10 2.5 2.8 2.4 2.6 2 percent [+]
Interest Rate 2.25 2.25 2.25 2.25 2.25 1.75 percent [+]
Balance of Trade -11927.00 -14684 -14571 -14537 -14537 -14538 MAD Million [+]
Government Debt to GDP 64.10 64.42 64.3 64.18 64.26 64.46 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 9.93 10.15 10.25 10.55 10.45 12.06 [+]
Stock Market 11637.93 11300 11200 10800 10900 9100 points [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 4.30 3.53 3.7 4.18 2.54 2.65 percent [+]
GDP Annual Growth Rate 4.30 4.3 4 4.1 4.3 5.5 percent [+]
GDP 100.59 106 103 101 101 100 USD Billion [+]
GDP Constant Prices 233632.00 232658 233981 238302 238666 255352 MAD Million [+]
Gross Fixed Capital Formation 281492.00 284536 287732 290928 291955 312766 MAD Million [+]
GDP per capita 3239.55 3249 3267 3286 3302 3527 USD [+]
GDP per capita PPP 7364.77 7353 7384 7414 7450 7759 USD [+]
Gdp From Agriculture 27222.00 28487 28750 28754 28569 28375 MAD Million [+]
Gdp From Construction 11596.00 11701 11644 11642 11674 11658 MAD Million [+]
Gdp From Mining 3200.00 3195 3196 3163 3135 3121 MAD Million [+]
Gdp From Public Administration 19264.00 19983 19995 20196 20552 22805 MAD Million [+]
Gdp From Services 27140.00 26697 26752 26887 26850 26830 MAD Million [+]
Gdp From Transport 8688.00 8360 8517 8592 8496 8478 MAD Million [+]
Gdp From Utilities 4814.00 4521 4613 4661 4574 4460 MAD Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 9.40 9.2 9.7 9.23 9.8 9 percent [+]
Employed Persons 10642.00 10846 10724 10643 10601 10665 Thousand [+]
Unemployed Persons 1202.00 1116 1172 1181 1167 1163 Thousand [+]
Population 34.70 33.77 33.84 33.9 33.9 34.99 Million [+]
Employment Rate 42.00 42.55 42.02 41.78 41.52 41.74 percent [+]
Youth Unemployment Rate 22.50 22.34 22.5 22.91 23.24 23.75 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.10 2.5 2.8 2.4 2.6 2 percent [+]
Consumer Price Index CPI 116.70 117 117 117 117 117 Index Points [+]
Producer Prices 106.70 107 107 107 107 107 Index Points [+]
Food Inflation -1.80 0.4 0.17 0.14 0.25 0.21 percent [+]
Inflation Rate Mom -0.60 0.39 -0.01 0.22 0.09 0.14 percent [+]
Cpi Transportation 110.80 111 111 111 111 111 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 2.25 2.25 2.25 2.25 2.25 1.75 percent [+]
Money Supply M1 746205.00 761762 771528 781255 790924 894326 MAD Million [+]
Money Supply M2 900868.00 912111 924114 936086 948001 1076186 MAD Million [+]
Money Supply M3 1191017.00 1213559 1227188 1240499 1253700 1391406 MAD Million [+]
Foreign Exchange Reserves 254957.00 258516 260420 262179 263705 272005 MAD Million [+]
Banks Balance Sheet 1219257.00 1238374 1250121 1261417 1272552 1385480 MAD Million [+]
Deposit Interest Rate 3.80 3.85 3.82 3.79 3.79 3.75 percent [+]
Central Bank Balance Sheet 282824.00 279924 279564 279653 279675 279693 MAD Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -11927.00 -14684 -14571 -14537 -14537 -14538 MAD Million [+]
Exports 18777.00 18630 18686 18692 18690 18689 MAD Million [+]
Imports 30704.00 33745 32928 32979 32939 32986 MAD Million [+]
Current Account -18430.90 -19948 -6921 -19960 -11258 -19281 MAD Million [+]
Current Account to GDP -6.10 -7.06 -7.2 -7.34 -7.21 -6.71 percent [+]
Capital Flows -16681.80 -14348 -6629 -14210 -9176 -11640 MAD Million [+]
Tourist Arrivals 10331731.00 10374311 10346425 10318540 10229899 9506845 [+]
Gold Reserves 22.05 22.05 22.05 22.05 22.05 22.05 Tonnes [+]
Terrorism Index 0.89 2.23 2.21 2.18 2.24 2.47 [+]
Crude Oil Production 0.20 0.2 0.2 0.2 0.2 0.2 BBL/D/1K [+]
Foreign Direct Investment 7969.00 5883 6280 6537 6254 6395 MAD Million [+]
External Debt 480293.54 500508 509511 518679 528142 618706 MAD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 64.10 64.42 64.3 64.18 64.26 64.46 percent [+]
Government Budget -4.40 -3.42 -3.35 -3.29 -3.24 -4.07 percent of GDP [+]
Government Spending 188720.00 196978 199891 202803 205483 245547 MAD Million [+]
Military Expenditure 3740.20 4021 3990 3959 4016 4329 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production 1.80 1.8 1.6 1.17 1.3 1.87 percent [+]
Changes in Inventories 15559.00 22354 21090 19827 19264 19460 MAD Million [+]
Steel Production 50.00 42.74 40.68 40.22 40.13 40.1 Thousand Tonnes [+]
Competitiveness Index 4.20 4.15 4.15 4.15 4.21 4.22 Points [+]
Competitiveness Rank 70.00 71 71 71 70 71 [+]
Ease of Doing Business 68.00 64 62 60 58 42 [+]
Corruption Index 37.00 35 35 35 35 36 Points [+]
Corruption Rank 90.00 94 93 93 95 108 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 73.50 74.09 74.27 74.38 74.43 74.41 [+]
Consumer Spending 567535.00 583704 587288 590872 596224 677182 MAD Million [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 31.00 30.5 30.75 31 31 31 percent [+]
Personal Income Tax Rate 38.00 38.01 38 37.99 37.99 37.98 percent [+]
Sales Tax Rate 20.00 20 20 20 20 20 percent [+]
Social Security Rate For Companies 18.50 18.5 18.5 18.5 18.5 18.5 percent [+]