Economy of Morocco
Population: 36.03 M (2018)
GDP per Capita: 3,238 USD (2018)
117,920 M.

GDP USD

(2018)

Display Chart
45,680 M.

EXPORTS USD

(2018)

Display Chart
58,080 M.

IMPORTS USD

(2018)

Display Chart
65.29 %

PUBLIC DEBT

(2018)

Display Chart
Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 2.99 % (2018)
GDP of 2010 USD USD 123.00 B. (2018)
GDP Current USD USD 117.92 B. (2018)
GDP per Capita Current USD USD 3,238 (2018)
GDP per capita, PPP USD 7,509 (2017)
GDP per Capita, 2010 USD USD 3,357 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 18.97 % (2018)
Government Spending USD 22.38 B. (2018)
Government Debt % GDP 65.29 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 128.29 (2018)
Trade Openness 87.99 % (2018)
Exports of Goods and Services % GDP 38.73 % (2018)
Exports Goods & Services USD 45.68 B. (2018)
Exports Annual Growth 5.85 % (2018)
Imports as % GDP 49.26 % (2018)
Total Imports USD 58.08 B. (2018)
Foreign Direct Investment % GDP 3.07 % (2018)
Foreign Direct Investment USD 3.63 B. (2018)
Current Account Balance % GDP USD -5.47 % (2018)
Current Account Balance USD -6.44 B. (2018)
Trade Balance % GDP -10.52 % (2018)
Trade Balance USD -12.23 B. (2018)
Foreign Exchange Reserves incl Gold USD 24.46 B. (2018)
Remittances % GDP 5.87 % (2018)
Remittances USD 6,918 M. (2018)
Balance of Payments USD 1,353 M. (2018)

Labor Market

Indicator Value
Labor Force 12.05 M. (2019)
Unemployment Rate 9.03 % (2019)
Unemployment Rate Females 10.41 % (2019)
Unemployment Rate Males 8.57 % (2019)
Youth Unemployment (ages 15-24) 21.94 % (2019)
Labor Force Participation Rate 45.23 % (2019)
Labor Force (Percent Female) 24.18 % (2019)
Female Labor Force Participation Rate 21.34 % (2019)
Male Labor Force Participation Rate 70.17 % (2019)
Dependent People 52.02 % (2018)

Agriculture Sector

Indicator Value
Forest Area 12.60 % (2016)
Forest Area km² 56,240 km² (2016)
Agricultural Land 68.54 % (2016)
Agricultural Land km² 305,915 km² (2016)
Employment 37.86 % (2019)
Value added % GDP 12.26 % (2018)
Agriculture Value added USD 14.46 B. (2018)
Crop Production Index 110.10 (2016)
Precipitation 346 mm (2014)
Arable Land 18 % (2016)
Cereal Yield 1,758 kg/hectare (2017)
Food production index 119 (2016)
Rural Population 38 % (2018)
Fertilizer use of Arable Land 71 kg/hectare (2016)
Livestock Production Index 148 (2016)
Economy of Morocco

According to the World Bank and its latest published data, the economy of the Morocco presents a growth rate of 2.99 % (2018) to the previous year.

With a population that reaches 36.03 M (2018) and a gross domestic product of USD 117.92 B. (2018), it translates a Gross Domestic Product per Capita of USD 3,238 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Morocco also has a workforce of 12.05 M. (2019) with an unemployment rate of 9.03 % (2019), where women represent 10.41 % (2019) and men 8.57 % (2019), the unemployment rate for young people between 15-24 years old stood at 21.94 % (2019). The total number of dependent people stands at 52.02 % (2018).

The central government spent 18.97 % (2018) of its gross domestic product that year, which in absolute terms is USD 22.38 B. (2018). Its consolidated public debt reached 65.29 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Morocco exported USD 45.68 B. (2018), which represents 38.73 % (2018) of its gross domestic product, in that same sense its imports reached USD 58.08 B. (2018) with a direct foreign investment of USD 3.63 B. (2018).

Morocco has a forest area of 56,240 km² (2016), which represents 12.60 % (2016) of its total area, an average rainfall of 346 mm (2014) per year and a population of 38 % (2018) living in rural areas. With a total area of 305,915 km² (2016) available for agriculture and 37.86 % (2019) of its employments, the agricultural sector contributes to the economy of the Morocco about USD 14.46 B. (2018) (12.26 % (2018) of its GDP).