Morocco Selected Economic Indicators - Annex 4 - FY2026-2035 Period

Jul 19, 2026

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Annex 4 compiles selected economic indicators for Morocco across 2018–2024 and provides projections for 2025E–2026P. The table presents growth dynamics for real GDP and GDP at market prices, with sector breakdowns across agriculture, industry, and services. It also summarizes demographic trends, real GDP per capita growth, inflation, external balances including current account and trade/services balances, and investment and reserves metrics. Fiscal measures cover central government debt, revenue composition, expenditure, wages, capital spending, and overall fiscal balance with and without grants.

LanguageEnglish

CategoryResearch & Report

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Annex 4: Morocco Selected Economic Indicators

Macroeconomic growth and sector performance

Population, inflation, and external accounts

Investment, reserves, and government debt

Revenues, expenditures, and fiscal balances

Public Disclosure Authorized Public Disclosure Authorized Annex 4: Morocco Selected Economic Indicators4 2018 2019 2020 2021 2022 2023 2024 2025E 2026P | Real GDP growth | 3.1 | 2.9 | -7.2 8.2 1.8 3.7 | 3.8 | 4.7 | 4.5 | | --- | --- | --- | --- | --- | --- | --- | | GDP at market prices growth | 3.1 | 3.0 | -7.0 7.9 1.9 3.4 | 3.4 | 4.7 | 4.5 | | Agriculture | 4.5 | -3.9 | -7.1 19.0 -11.8 1.8 | -4.5 | 3.7 | 9.9 | | Industry | 3.1 | 4.1 | -5.2 7.8 -1.6 0.8 | 4.2 | 4.8 | 3.8 | | Services | 2.9 | 3.9 | -7.9 5.7 6.8 5.0 | 4.6 | 4.5 | 4.2 | | Population growth | 1.1 | 1.0 | 1.0 1.0 1.0 1.0 | 1.0 | 0.9 | 0.9 | | Real per capita GDP growth | 1.9 | 1.8 | -8.1 7.1 0.8 2.6 | 2.8 | 3.7 | 3.6 | | Annual average inflation | 1.6 | 0.2 | 0.7 1.4 6.6 6.1 (in percent of GDP, unless indicated otherwise) | 0.9 | 0.8 | 2.3 | | Current account balance | -4.9 | -3.4 | -1.2 -2.3 -3.5 -1.0 | -1.2 | -2.1 | -3.1 | | Balance in trade and services | -9.5 | -7.8 | -7.3 -9.2 -11.5 -8.3 | -8.3 | -10.6 | -11.2 | | Primary income (net) | -1.6 | -1.6 | -1.0 -1.4 -1.5 -1.5 | -1.5 | -1.5 | -1.5 | | Secondary income (net) | 6.3 | 6.0 | 7.1 8.3 9.4 8.8 | 8.6 | 10.1 | 9.6 | | Net foreign direct investment | | 1.3 | 1.2 1.6 1.7 0.7 | 1.0 | 1.3 | 1.4 | | Gross Official Reserves (in months of imports) | 5.3 | 6.9 | 7.1 5.3 5.4 5.4 | 5.3 | 5.6 | 5.3 | | Central Government Debt | 60.5 | 60.3 | 72.2 69.4 71.4 68.7 | 67.7 | 67.2 | 67.6 | | External | 12.4 | 13.0 | 17.3 16.0 17.2 17.1 | 16.8 | 16.8 | 16.6 | | Domestic | 48.1 | 47.2 | 54.9 53.4 54.2 51.6 | 50.9 | 50.4 | 51.0 | | Revenues and grants | 24.2 | 23.8 | 27.0 25.1 28.4 27.6 | 29.1 | 30.0 | 30.6 | | Current expenditures | 22.9 | 23.4 | 28.5 26.2 28.4 26.5 | 27.2 | 28.4 | 29.3 | | o/w wages and salaries | 10.4 | 10.6 | 11.6 11.0 11.1 10.3 | 10.3 | 11.0 | 11.1 | | Capital expenditure | 4.8 | 4.2 | 5.6 4.8 5.3 5.5 | 5.9 | 5.1 | 4.9 | | Overall fiscal balance including grants | -3.5 | -3.8 | -7.1 -5.9 -5.4 -4.4 | -3.9 | -3.6 | -3.8 | | Overall fiscal balance excluding grants | -3.8 | -4.0 | -7.6 -6.0 -5.5 -4.6 | -4.1 | -3.7 | -3.9 | 4 Data for 2025 and 2026 are projections, consistent with standard World Bank practices.

FAQs

Which time period and data types are covered in Annex 4?

Annex 4 covers 2018–2024 and includes projections for 2025E and 2026P. The data combine historical values with forward-looking estimates consistent with standard World Bank practices.

What macroeconomic growth measures are shown for Morocco?

The annex lists Real GDP growth and GDP at market prices growth, along with sector contributions for agriculture, industry, and services.

How are external and fiscal positions summarized?

External positions include the current account balance and the balance in trade and services, plus primary and secondary income and net foreign direct investment. Fiscal positions include central government debt and government budget items such as revenues and grants, expenditures (including wages), capital expenditure, and overall fiscal balance with and without grants.

Jul 19, 2026

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