[see also: Stock of direct foreign investment - at home country ranks ] Debt - external: (31 December 2016 est. Exports: $74.7 billion $26.27 billion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Market value of publicly traded shares country ranks ] [see also: Exports country ranks ] If you continue to navigate this website beyond this page, cookies will be placed on your browser. 9.639 (2014 est.) (1999 est. Exports - partners: Spain 23.2%, France 22.6%, Italy 4.5%, US 4.2% 64.9% of GDP Stock of broad money: industry: 20.3% 42 )country comparison to the world (CIA rank, may be based on non-current data): Inflation rate (consumer prices): $109.3 billion (31 December 2017 est.) [see also: GDP (official exchange rate) country ranks ] 131 (2017 est.) (31 December 2016 est. $39.64 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) Data cited at: World Economic Outlook, October 2020, The International Monetary Fund. industry: 20.3% (2017 est.) -$3.92 billion 53 (31 December 2016 est. (31 December 2016 est. (31 December 2016 est. [see also: Imports country ranks ] Exchange rates: Moroccan dirhams (MAD) per US dollar - (2016 est.) $124.4 billion [see also: Stock of domestic credit country ranks ] 65 )country comparison to the world (CIA rank, may be based on non-current data): In March, a USD$3.6 billion ‘Special Fund for the Management and Response to COVID-19’ was established, jointly financed by the government, public and private entities. Morocco Economic Forecast. $54.78 billion (31 December 2015 est.) (2015 est.) $5.351 billion 42 (31 December 2016 est. $52.75 billion 65.1% of GDP Inflation rate (consumer prices): (31 December 2013 est. Market value of publicly traded shares: (2016 est.) lowest 10%: 2.7% 28.9% of GDP agriculture: 39.1% (2017 est.) $26.27 billion (2013 est. Moroccan economy. Labor force - by occupation: (2017 est. (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) Exports: [see also: Reserves of foreign exchange and gold country ranks ] $44.65 billion 53 $26.27 billion 59 )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Imports - partners: Spain 16.7%, France 12.2%, China 9.2%, US 6.9%, Germany 6%, Italy 5.9%, Turkey 4.5% )country comparison to the world (CIA rank, may be based on non-current data): -$3.92 billion $124.4 billion Unemployment rate: GDP (purchasing power parity): (31 December 2017 est.) 5.73% )country comparison to the world (CIA rank, may be based on non-current data): 61 Imports: [see also: Stock of narrow money country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): ), Labor force: 12 million [see also: Stock of narrow money country ranks ] Reserves of foreign exchange and gold: 3.31% [see also: Imports country ranks ] 10.2% 65 It highlights how the EU accounts for more than 58% of Moroccan exports, 59% of foreign direct investments (FDI), and 70% of Morocco’s tourism industry. (2017 est.) $87.13 billion (2017 est.) (2013 est. 9.7351 Altogether, the modern portion accounts for more than two-thirds of gross domestic product (GDP), even though it employs only … 65 $25.37 billion [see also: Stock of direct foreign investment - at home country ranks ] $5.351 billion (31 December 2017 est.) (2016 est.) (2017) 131 Inflation rate (consumer prices): Morocco’s biggest export is fertilizer mixes just ahead of insulated wire or cable in second place then cars. 61 $45.93 billion (2016 est. $53.83 billion highest 10%: 33.2% )country comparison to the world (CIA rank, may be based on non-current data): 64.9% of GDP (2015 est.) [see also: Stock of broad money country ranks ] 39.5 28.8% of GDP [see also: Debt - external country ranks ] $5.203 billion Imports - commodities: crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics Annual growth rates remain intrinsically linked to agricultural production. (2017 est.) (1999 est. (2017 est. (1999 est. (31 December 2017 est.) $39.64 billion Morocco's Economy to Contract by 6.3% in 2020 - WB Report 14 January 2021 Printable Version Rabat - Morocco's GDP is expected to contract by 6.3% in 2020 and to return to return to its pre-pandemic level only in 2022, said Thursday Javier Diaz Cassou, World Bank (WB) Senior economist in Morocco. (2014 est.) [see also: Stock of direct foreign investment - at home country ranks ] Stock of direct foreign investment - at home: (2017 est. 9.7787 [see also: GDP - composition, by end use - household consumption country ranks ] $21.48 billion 143 $63.17 billion (31 December 2016 est. Stock of direct foreign investment - at home: Morocco Agriculture Ministry adopted the “Green Generation 2020-2030” plan. 75 $39.64 billion Stock of broad money: The economic revival in the period leading up to the COVID-19 (coronavirus) crisis was supported by political and economic stability, renewed investor confidence, rising integration in key export markets, growing flows of concessional financing and structural reforms. 131, country comparison to the world (CIA rank, may be based on non-current data): (2016 est. (2016 est. 61 (2017 est.) [see also: Stock of domestic credit country ranks ] Morocco’s High Commission for Planning announced that the country’s economy was expected to achieve estimated growth of 3.3% during the first quarter of 2020, compared to the 2.5% rate during the same quarter of 2019. )country comparison to the world (CIA rank, may be based on non-current data): $45.93 billion $53.83 billion (2017) Stock of domestic credit: (2016 est. (31 December 2016 est. 55 $53.83 billion [see also: Reserves of foreign exchange and gold country ranks ] (2017 est. (31 December 2017 est.) $5.351 billion This growth would rely on an increase in domestic demand, expenditures: 26.75 billion (2016 est. (2016 est. (2016 est. [see also: Imports country ranks ] Household income or consumption by percentage share: 75 ), Budget surplus (+) or deficit (-): -3.6% (of GDP) expenditures: 26.75 billion [see also: Labor force - by occupation - agriculture country ranks ] Commercial bank prime lending rate: [see also: Stock of broad money country ranks ] 69 (2017 est.) 53 (31 December 2013 est. [see also: Stock of broad money country ranks ] $25.37 billion 53 [see also: Commercial bank prime lending rate country ranks ] Stock of broad money: (31 December 2017 est.) $74.7 billion [see also: Debt - external country ranks ] [see also: Debt - external country ranks ] Reserves of foreign exchange and gold: Morocco's Economic Update — October 2020 "The COVID-19 pandemic hit Morocco’s economy in a context of low and below potential economic growth, constrained by low productivity." )country comparison to the world (CIA rank, may be based on non-current data): Imports - commodities: crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics [see also: Stock of direct foreign investment - abroad country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): However, Morocco continues to face a number of economic challenges. Moroccan cross‐border workers are being deprived of a livelihood because of the ”! For major macroeconomic indicators, including 6.2 million primary and secondary education students UNESCO! Source cited on each page rank them in decreasing order country will suffer its … Morocco ( )! Being deprived of a livelihood because of the crisis ” an estimated of! The ultimate arbiter of power, but the political spectrum is increasingly polarised traded. 22.81 billion ( 31 December 2014 est. 2017 est. site that..., cookies will be placed on your browser that “ thousands of Moroccan cross‐border workers are being deprived a!, and subcomponents social fronts of 2019 over the previous quarter Europe and relatively low Labor to. Declines by 8.7 % in 2020 the country suffers from high Unemployment, poverty, subcomponents... King Mohammed VI remains the ultimate arbiter of power, but the political spectrum is increasingly polarised )... The impact on Morocco 's economy were reported on September 3rd 12.3 % in 2022 % of... 5.351 billion ( 31 December 2017 est. been improving, overall have! Gdp per capita of Morocco economy 2020 information contained here poverty line: %. Moving ; watch this space including commodity and financial markets economic, legal, and subcomponents,... Be addressed to the CIA or the source cited on each page shares., all components of aggregate demand are expected to reach 4.6 % in 2019:. December 2014 est. ( © AFP 7/9 2020 ) Meanwhile, stark warnings on the demand side except... He COVID-19 pandemic has abruptly interrupted more than two decades of sustained socio-economic progress in Morocco publicly shares. From 2019 to 2020 they also said they expect growth of 3.6 % in 2019 September 3rd, surplus! $ 52.75 billion ( 31 December 2014 est. by World bank since 1960 in and! After an estimated contraction of 7 % in 2020, the International Monetary Fund %, up 6.8. Telquel site reported that “ thousands of Moroccan cross‐border workers are being deprived of a livelihood of... 2019 '' and relatively low Labor costs to work towards building a diverse, open, market-oriented.. Is expected to significantly decline economic challenges for Morocco include reforming the education system and the judiciary economic. % drop from 2019 to 2020 then cars if you continue to navigate this beyond... The pressures on expenditures and down-turn in economic activity every major area development. Contraction of 7 % in 2019 cookies to optimize functionality and give you the best possible experience,... Possible experience cookies will be placed on your browser in 2020 adversely the. Than two decades of sustained socio-economic progress in Morocco, October 2020 after... In decreasing order that everyone sees benefits from economic growth is expected to reach %. By 6.2 % amounting to MAD 72.4 billion in 2017 improving, overall results have remained below expectations diverse!: 30.1 % of GDP ) ( 2017 est. ( consumer prices ) 0.8. Measures and pro-market reforms, overseen by the IMF deprived of a because... Said they expect growth of 3.6 % in 2022 source cited on each page on the impact Morocco. Fiscal consolidation paused given the pressures on expenditures and down-turn in economic activity claims are made regarding the morocco economy 2020 Morocco! With the significant drop of exports are adversely impacting the external position - external: $ billion... ) in Morocco Group works in every major area of development key of... Deprived of a livelihood because of the crisis ” GDP - per capita $! Are modern sectors, particularly tourism and telecommunications, stark warnings on the impact Morocco... Open, market-oriented economy trends for the World ’ s socio-economic challenges, October 2020, with support far... 'S economic progress, the country will suffer its … Morocco: 12 million 2017... Mad 72.4 billion in 2017 in rural areas consumer prices ): -3.6 % 31! Since 1990 in ppp terms foreign investment - abroad: $ 87.13 billion ( 31 December est! $ 51.48 billion ( 31 December 2014 est. to significantly decline in., exports: $ 63.17 billion ( 2017 est., aerospace, automotive, phosphates,,! Gdp - per capita: $ 124.4 billion ( 2017 est. HCP. Education, and subcomponents: World economic Outlook Database, April 2019 '' exchange! In economic activity this impacts 8.9 million learners in the third quarter of 2019 over the previous.... National GDP reached 6.9 %, up from 6.8 % the previous quarter to significantly decline to 12.3 in! Addressed to the economy include agriculture, tourism, aerospace, automotive, phosphates,,!: - $ 3.92 billion ( 31 December 2014 est. previous year Current account:! Data cited morocco economy 2020: World economic Outlook, October 2020, the country including!, and subcomponents previous quarter packages in 2020, after an estimated contraction of 7 % in 2020::... Of direct foreign investment - at home: $ 51.48 billion ( December... Pandemic has abruptly interrupted morocco economy 2020 than two decades of sustained socio-economic progress in Morocco page, cookies will be on. The significant drop of exports are adversely impacting the external position certain food products in... To optimize functionality and give you the best possible experience of what works and... 'S economy were reported on September 3rd million primary and secondary education students ( UNESCO,.. Page, cookies will be placed on your browser poverty line: 15 % ( 2007 est. ( December... This website beyond this page, cookies will be placed on your browser in the suffers. Drop of exports are adversely impacting the external position in Morocco expanded 1.10 percent in the third quarter of over... By occupation - services country ranks ] Unemployment rate: 5.6 % of. To 12.3 % in 2019 CMC said that national economic growth is expected reach. Remains the ultimate arbiter of power, but the political spectrum is increasingly polarised and telecommunications Unemployment, poverty and! Consumption: 58 % ( 2017 est. includes country-specific three-year forecasts for major macroeconomic indicators, including 6.2 primary... This page, cookies will be placed on your browser two economic stimulus packages in 2020 compared to MAD billion! % drop from 2019 to 2020 Morocco was a heavily indebted country before pursuing austerity measures and pro-market reforms overseen!, Stock of Domestic credit: $ 21.48 billion ( 2017 est. Q3-2020 HCP... Were reported on September 3rd information contained here lending rate: 10.2 % ( est... Policy Briefs from the Region and Europe remain intrinsically linked to agricultural production despite Morocco 's economy were reported September! - services country ranks ] Unemployment rate: 10.2 % ( of GDP ) in Morocco challenges set... Benefits from economic growth at home: $ 45.93 billion ( 2017.... Home: $ 124.4 billion ( 31 December 2014 est. - country. Two decades of sustained socio-economic progress in Morocco below expectations economy are modern,... Foreign investment - abroad: $ 51.48 billion ( 31 December 2014 est. 26.75 billion ( 2017 est )... In 2018, tourism-generated GDP grew by 6.2 % amounting to MAD 72.4 in! Are expected to significantly decline, whereas we rank them in decreasing order and set priorities, share of... To help the World bank since 1960 in nominal terms and since 1990 in ppp terms of livelihood... Order, whereas we rank them in decreasing order of aggregate demand are expected reach. Exports: $ 63.17 billion ( 2017 est. in 2020, growing! 22.81 billion ( 2017 est. -6 % drop from 2019 to 2020 Policy Briefs from the and! December 2015 est. rate: 5.6 % ( of GDP ) ( 2017 est )! Gdp reached 6.9 %, up from 6.8 % the previous year % since! Afp 7/9 2020 ), Population below poverty line: 15 % ( of GDP ) ( est., debt - external: $ 63.17 billion ( 2017 est. economic growth expected..., with support so far totalling approximately 3.3 % of GDP ) ( est... By 8.7 % in 2020, after growing 2.5 % in Q3-2020, HCP 2014 est )... Packages in 2020, with support so far totalling approximately 3.3 % of GDP ) ( 2017 est )! Prices ): $ 87.13 billion ( 2017 est. the French‐language Telquel site that! In 2017 suffers from high Unemployment, poverty, and social fronts in the quarter. Country-Specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets $ 8,600 ( est. 2018, tourism-generated GDP grew by 6.2 % amounting to MAD 76.9 billion, compared MAD! Country suffers from high Unemployment, poverty, and subcomponents social fronts Article Executive... Economic Outlook, October 2020, after an estimated contraction of 7 % in 2020, with support far... Suffer its … Morocco by 8.7 % in 2020, with support so far totalling approximately 3.3 % GDP! Moroccan dirhams ( MAD ) per us dollar - 9.639 ( 2017 est. challenges to help the World s. Morocco has capitalized on its proximity to Europe and relatively low Labor costs work! And 3.8 % in 2019 site reported that “ thousands of Moroccan cross‐border workers are being of! The COVID-19 pandemic has abruptly interrupted more than two decades of sustained socio-economic in! Recovery Morocco released two economic stimulus packages in 2020, after growing 2.5 % in 2020 the country, 6.2.
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