Markets Actual Q3 Q4 Q1 Q2 2021
Stock Market (points) 10122.65 10094 9962 9831 9703 9445
Currency 9.34 9.35 9.37 9.4 9.42 9.47

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 0.10 -4.6 -5.8 1.7 3.5 4
Unemployment Rate (%) 10.50 13.4 14.8 14.6 14 14.4
Inflation Rate (%) -0.70 1.2 1 1.1 1 1
Interest Rate (%) 1.50 1 1 1 1.5 1.5
Balance of Trade (MAD Million) -12664.00 -16500 -18700 -18700 -18700 -20200
Current Account (MAD Million) -9838.00 4000 -6800 -6800 -6800 -6800
Current Account to GDP (%) -4.60 -3.9 -3.9 -3.7 -3.7 -3.7
Government Debt to GDP (%) 66.10 75 75 78 78 78
Government Budget (% of GDP) -3.60 -7.4 -7.4 -6 -6 -6
Consumer Confidence (points) 65.60 60 63 66 68 70
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 0.10 -4.6 -5.8 1.7 3.5 4
GDP (USD Billion) 118.73 110 110 117 117 117
GDP Constant Prices (MAD Million) 246853.00 239435 241966 251050 255493 251645
Gross Fixed Capital Formation (MAD Million) 318567.00 300475 300090 323983 329717 312094
GDP per capita (USD) 3396.10 3150 3150 3240 3240 3240
GDP From Agriculture (MAD Million) 28295.00 28417 27408 28776 29285 28505
GDP From Construction (MAD Million) 12105.00 11589 11375 12311 12529 11830
GDP From Mining (MAD Million) 4026.00 3636 3751 4094 4167 3901
GDP From Public Administration (MAD Million) 21656.00 19835 19859 22024 22414 20654
GDP From Services (MAD Million) 30474.00 29255 29167 30992 31541 30334
GDP From Transport (MAD Million) 9150.00 9118 8991 9306 9470 9351
GDP From Utilities (MAD Million) 5910.00 5658 5552 6010 6117 5774

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 10.50 13.4 14.8 14.6 14 14.4
Employed Persons (Thousand ) 10957.00 12150 11170 11170 11170 11300
Unemployed Persons (Thousand ) 1292.00 1145 1140 1140 1140 1140
Population (Million) 35.60 36 35.8 36.3 36.3 36.1
Employment Rate (%) 41.20 40.1 40.1 40.1 40.1 41.56
Youth Unemployment Rate (%) 26.80 29 26.5 26.5 26.5 28

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -0.70 1.2 1 1.1 1 1
Consumer Price Index CPI (points) 101.90 122 122 123 103 124
Producer Prices (points) 107.40 107 107 107 107 107
Food Inflation (%) -1.60 1.2 1.4 1.1 0.8 1.5
Inflation Rate Mom (%) -0.30 0.5 0.5 0.3 0.2 0.3
Core Inflation Rate (%) 0.70 0.9 1 0.7 1.2 1.3
CPI Transportation (points) 98.40 114 114 111 96.86 115

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 1.50 1 1 1 1.5 1.5
Money Supply M2 (MAD Million) 1143202.00 1075000 1100000 1100000 1100000 1100000
Banks Balance Sheet (MAD Million) 1487256.00 1450000 1462537 1462537 1458000 1462537
Foreign Exchange Reserves (MAD Million) 292264.00 233000 234152 234152 234152 240152
Deposit Interest Rate (%) 3.00 3 3 3 3.5 3.5
Central Bank Balance Sheet (MAD Million) 403128.04 425000 430000 432000 431500 432000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (MAD Million) -12664.00 -16500 -18700 -18700 -18700 -20200
Current Account (MAD Million) -9838.00 4000 -6800 -6800 -6800 -6800
Current Account to GDP (%) -4.60 -3.9 -3.9 -3.7 -3.7 -3.7
Imports (MAD Million) 32233.00 40500 45000 45000 45000 47600
Exports (MAD Million) 19569.00 24000 26300 26300 26300 27400
Tourist Arrivals 13000000.00 11000000 11000000 12570000 12570000 12570000
Foreign Direct Investment (MAD Million) 4816.00 7300 6500 6500 6500 7300
External Debt (MAD Million) 524035.09 501300 514905 514905 514905 523802

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 66.10 75 75 78 78 78
Government Budget (% of GDP) -3.60 -7.4 -7.4 -6 -6 -6
Government Spending (MAD Million) 222967.00 200353 210035 226757 230771 218436

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 31.00 31 31 31 31 31
Personal Income Tax Rate (%) 38.00 38 38 38 38 38
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate For Companies (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q3 Q4 Q1 Q2 2021
Industrial Production (%) 0.50 -3.4 1.4 2 2.5 3
Mining Production (%) 3.60 3.6 3.5 3.5 3.5 4.2

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 65.60 60 63 66 68 70
Consumer Spending (MAD Million) 653804.00 607506 615883 664919 676687 640519


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.