Morocco's gross domestic product plummeted 14.9% year-on-year in the second quarter of 2020, compared to a 0.1% growth in the previous period. It was the first and sharpest economic contraction on record, amid the full impact of the Covid-19 and related containment measures. The non-agricultural sector was severely hit (-15.5% vs 0.9% in Q1), namely the key tourism sector (-90%); transportation services (-55.7%); internal trade (-26.5%); manufacturing (-22%) and construction (-17.1%). Also, poor weather conditions continued to weigh on the agricultural sector (-6.9% vs -5.2%).
GDP Annual Growth Rate in Morocco averaged 3.67 percent from 1999 until 2020, reaching an all time high of 9.30 percent in the second quarter of 2006 and a record low of -14.90 percent in the second quarter of 2020. This page provides the latest reported value for - Morocco GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Morocco GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Haut Commissariat au Plan
GDP Annual Growth Rate in Morocco is expected to be -8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Morocco to stand at 4.50 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 4.70 percent in 2021 and 4.50 percent in 2022, according to our econometric models.