Morocco's annual economic growth slowed sharply to 0.1% in the first quarter of 2020 from 2.1% in the previous period. It was the weakest pace of expansion since comparable data began in Q1 of 2006, amid the initial impact of the global pandemic. Poor weather conditions continued to weigh on the agricultural sector (-5.2% vs -5% in Q4). Meantime, the non-agricultural sector expanded much softer (0.9% vs 3%), amid declines in accommodation & food services (-7% vs 3.7%); transportation services (-2.6% vs 2.7%); internal trade (-0.4% vs 2.8%); utilities (-3.4% vs 5%) and mining (-0.4% vs 3.2%). In contrast, output rebounded markedly in fishing activities (5.2% vs -3.6%) and public administration posted a strong rise (5.8% vs 4.8%).
GDP Annual Growth Rate in Morocco averaged 3.96 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 0.10 percent in the first 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 July of 2020. source: Haut Commissariat au Plan
GDP Annual Growth Rate in Morocco is expected to be -3.80 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 3.60 in 12 months time. In the long-term, the Morocco GDP Annual Growth Rate is projected to trend around 3.40 percent in 2021 and 4.00 percent in 2022, according to our econometric models.