Morocco: Looking Toward Private Sector Growth
Morocco acts as a stepping stone between two continents.
Morocco GDP and Economic Data
Includes Morocco real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Morocco economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Morocco best banks and safest banks are also available.
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International Reserves
USD 36.00 billion (2020)
World Bank, last updated 12/16/2021
Real GDP growth
| 2016 | 2017 | 2018 | 2019* | 2020* |
| 3.1% | 3.1% | 2.6% | -6.3% | 5.7% |
*Estimate
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GDP (PPP) - share of world total
USD 0.21% (2021 estimate)
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GDP - composition by sector
- agriculture: 12.2%
- industry: 25.3%
- services: 51.2%
(2016 estimate)
Inflation
| 2016 | 2017 | 2018 | 2019* | 2020* |
| 0.7% | 1.6% | 0.2% | 0.6% | 1.4% |
*Estimate
Source
Unemployment rate
| 2016 | 2017 | 2018 | 2019* | 2020* |
| 10.6% | 9.4% | 10.2% | 12.2% | 12.0% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2016 | 2017 | 2018 | 2019* | 2020* |
| 65.1% | 65.2% | 65.1% | 75.4% | 75.8% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2016 | 2017 | 2018 | 2019* | 2020* |
| -0.9% | -1.3% | -1.5% | -5.1% | -4.1% |
*Estimate
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Government bond ratings
Standard & Poor's: BBB–
Moody's: N/A
Standard & Poor's / Moody's (January 2022)
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Market value of publicly traded shares
USD 65.6 billion (2020)
Largest companies
Attijariwafa Bank, Maroc Telecom, Banque Centrale Populaire
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Current account balance by percentage of GDP
-1.4% (2017 estimate)
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Exports as percent of GDP (Exports of goods and services)
34.3% (2015)
Shares in world total merchandising export
0.1% (2015)
Shares in world total commercial services export
0.3% (2015)
Export commodities
Clothing and textiles, automobiles, electric components, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, citrus fruits, vegetables, fish
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Import commodities
Crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics
Exports - major partners
Spain 22.1%, France 19.7%, India 4.9%, US 4.3%, Italy 4.3% (2015)
Imports - major partners
Spain 13.9%, France 12.4%, China 8.5%, US 6.5%, Germany 5.8%, Italy 5.5%, Russia 4.4%, Turkey 4.3% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 3,298 million | USD 3,561 million | USD 3,162 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 332 million | USD 436 million | USD 649 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| USD 101.1 million | USD 147.2 million | N/A | USD 80.8 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 68 out of 190 countries (2017)
Subcategories:
Starting a business: 40 out of 190 countries
Enforcing Contracts: 57 out of 190 countries
Registering Property: 87 out of 190 countries
Getting Credit: 101 out of 190 countries
Protecting Minority Investors: 87 out of 190 countries
Trading Across Borders: 63 out of 190 countries
Paying Taxes: 41 out of 190 countries
Dealing with Construction Permits: 18 out of 190 countries
Getting Electricity: 57 out of 190 countries
Resolving Insolvency: 131 out of 190 countries
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Global competitiveness ranking
70 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 85 / Score: 61.27 (Moderately free) (2016)
(100=totally free 0=totally repressed)
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Languages
Arabic (official), Berber languages (Tamazight (official), Tachelhit, Tarifit), French (often the language of business, government, and diplomacy)
Religions
Muslim 99% (official; virtually all Sunni, <0.1% Shia), other 1% (includes Christian, Jewish, and Baha'i); note - Jewish about 6,000 (2010 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 24.043 million | 28.466 million | 31.851 million | 33.827 million | 35.427 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 29% | 41% | 53% | 60% |
Literacy
Total population: 68.5%
Male: 78.6%
Female: 58.8% (2015 est.)
(age 15 and over can read and write)
Freedom House rating
Political Rights: 5
Civil Liberties: 4 (2017)
(1 represents the most free, 7 the least free rating)
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Total telephone subscribers as % of population
Fixed 6.55% Mobile 126.87% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)