The gross domestic product of Morocco advanced 2.1% from a year earlier in the third quarter of 2019, following a downwardly revised 2.2% growth in the previous period. It was the slowest expansion since the last quarter of 2016, as agricultural activity continued to shrink markedly (-5.3% vs -5.4% in Q2), mainly due to the lingering effects of drought on cereal crops such as wheat. In addition, the non-agricultural sector expanded at a slower pace (3% vs 3.3%), hampered by fisheries (-1.3% vs 5.1%); manufacturing (1.9% vs 2.5%); utilities (11.3% vs 20.9%); internal trade (2.9% vs 3.3%); finance & insurance (1.2% vs 2.9%) and business services (3.8% vs 4%). In contrast, growth quickened in construction (1.3% vs 1.2%); transportation (3.2% vs 2.9%); post & telecommunications (1.9% vs 1.5%); public administration (4.4% vs 3.6%) and education, health & social care (1.6% vs 0.6%).
GDP Annual Growth Rate in Morocco averaged 4.05 percent from 1999 until 2019, reaching an all time high of 9.30 percent in the second quarter of 2006 and a record low of 0.50 percent in the fourth quarter of 1999. 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. source: Haut Commissariat au Plan
GDP Annual Growth Rate in Morocco is expected to be 3.10 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 3.80 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.80 percent in 2021 and 3.60 percent in 2022, according to our econometric models.