Morocco GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

0.5

Units In

1.6

Frequency

Quarterly

Next Release

Jul 01, 2025

Time to Release

2 Months 29 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
15.2 Jun 2021	-14.2 Jun 2020	3.5 %	1999-2022	Haut Commissariat au Plan

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.

Latest Updates

Morocco's GDP expanded by 3.7% year-on-year in Q4 2024, following a 4.3% rise in the previous three-month period, which was the fastest growth since Q4 2021. Household consumption grew by 4.1%, government spending rose by 4.8%, and fixed investment surged by 15.3%. Meanwhile, net external demand contributed negatively to the GDP growth, as exports rose 9.2% and imports advanced 15.6%. On the production side, non-agricultural activities rose by 4.4%, with industrial production up 4.9%, fueled by growth in the extraction industry (6.5%), manufacturing (3.7%), construction (7%), and utilities (5.7%). Services increased by 4.2%, primarily driven by tourism, with hotels and restaurants rising by 12.8%. On the other hand, the agricultural sector contracted by 4.9%.