Morocco/Economy

Economy of Morocco

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

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GDP (USD)
$144.4B(2023)
GDP PPP (USD)
$376.9B(2023)
GDP per Capita (USD)
$3,771(2023)
GDP Growth (inflation-adjusted)
3.4%(2023)
Inflation (CPI Annual %)
1%(2024)

Trade & Finance

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Exports (as share of GDP)
42.8%(2023)
Imports (as share of GDP)
51%(2023)
FDI Inflows (as share of GDP)
0.8%(2023)
Remittance Inflow (USD)
$11.8B(2023)
Tax Revenue (as share of GDP)
21%(2023)

Labor & Income

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Unemployment Rate
8.9%(2024)
Employment in Services
46.3%(2023)
Poverty Rate
3.9%(2022)
GINI Index
39.5(2013)
GNI per Capita (USD)
$3,760(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
603 kg oil eq.(2022)
Renewable Energy Consumption (%)
10.9%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Morocco

  • The economic architecture of Morocco is substantial, anchored by a Gross Domestic Product (GDP) of approximately $144.42B
    2023
    . This places it as the 59th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $3.77K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $376.91B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 3.4%
    2023
    , accompanied by stable price levels, with inflation (CPI) at 1.0%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 42.8% of GDP and imports at 51.0%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 0.76% of the economy
    2023
    . This performance positions the country 133rd globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $11.76B annually
    2023
    , highlighting the economic importance of its diaspora. Fiscal capacity is moderate, with tax revenue at 21.0% of GDP
    2023
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $3,760
    2023
    . Globally, this ranks the nation 126th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The country faces significant labor market challenges, with an unemployment rate of 8.9%
    2024
    . The services sector is a primary driver of the labor market, accounting for 46.3% of total employment
    2023
    . Poverty remains a key issue, with 3.9% of the population living below the national poverty line
    2022
    . There is a moderate level of income inequality, with a Gini index of 39.5
    2013
    .
  • On the environment and energy front, energy consumption per capita is 602.994 kg of oil equivalent
    2022
    . The energy mix is still heavily reliant on traditional sources, with renewables contributing 10.9%
    2021
    . Its commitment to clean energy places it 52nd among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

Transitioning to a sustainable energy model is critical for mitigating climate risk and ensuring long-term energy security.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.