morocco gdp growth 2020

Rabat – The African Development Bank (AfDB) has projected that Morocco’s real gross domestic product (GDP) will grow at 3.7% in 2020 and 3.9% in 2021. Twenty-six economies will experience a positive growth rate in 2020. The quarter-on-quarter GDP growth rates in previous quarters have not been adjusted. Last year, Morocco’s GDP increased by 2.4% in the second … 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%). GDP Growth Rate in 2017 was 4.09%, representing a change of 4,686,742,512 US$ over 2016, when Real GDP was $114,660,176,026. Integrate your data with the world’s data in a personalized and collaborative environment, purpose-built to support your organizational objectives. Only these four countries have a gdp growth rate above 3%. Current EBRD forecast for Morocco’s Real GDP Growth in 2021 3.5%. Annual percentage growth rate of GDP at market prices based on constant local currency. The economy in Morocco contracted in the first half of 2020, with stagnant growth in the first quarter and a 13.8 per cent contraction (year-on-year) in the second quarter, because of the Covid-19 crisis and related containment measures. 7. According to the report presented on Thursday by Minister of Finance Mohamed Benchaaboun, the Moroccan government is seeking to maintain the budget deficit rate at 3 percent, in line with forecasts for the coming years. Morocco's gross domestic product shrank 6% year-on-year in the fourth quarter of 2020, less than a 7.2% decline in the previous period. COVID-19 Pandemic Hits New Infections Record Amid Slow Vaccination Progress in Developing World, A Decade of Change: How Renewables Became Competitive with Fossil Fuels, Current account balance as a share of GDP. Morocco's gross domestic product plummeted 14.9% year-on-year in the second quarter of 2020, compared to a 0.1% growth in the previous period. The document, published on Wednesday, highlights the difference between GDP evolution in the second quarter of 2019 and 2020. Growth will average 3.1% in 2022-25, underpinned by stronger trade and tourism, but the economy will remain exposed to swings in agricultural output. Public Consumption accounted for 21.9 % in Sep 2020. Although the economy has shown resilience, growth is expected to slow in 2020. Morocco’s real GDP growth rate, which was 3.1% in 2018, will increase to 3.2% in 2019 and reach 4.5% by 2024, the IMF projected. Leverage our AI Workflow Tools and online data environment to manipulate, visualize, present, and export data. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor education that prevail in the country where she lives. In this baseline scenario, agricultural output returns to meet historical trends thanks to more benign weather conditions, the vaccine rollout proceeds according to the government´s plans, monetary policy remains accommodative, and the fiscal stimulus is maintained. Guyana is followed by South Sudan (4.11%), Bangladesh (3.80%), and Egypt (3.55%). GDP Annual Growth Rate in Morocco averaged 3.36 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 -14.90 percent in the second quarter of … Morocco gdp for 2019 was $119.70B, a 1.36% increase from 2018. As a result, real GDP is expected to recede by 1.7% in 2020. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2020, building on the lifetimes work of Angus Maddison. Morocco - Gross domestic product in constant prices growth rate -7.0 (%) in 2020 In 2020, … - … GDP Growth Rate in Morocco is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Morocco's gross domestic product slumped 7.2% year-on-year in the third quarter of 2020, softening from a record 14.9% contraction in the previous period, as the economy gradually recovers from the pandemic shock. The non-agricultural sector declined 6.7%, less than a 15.5% plunge in Q2, namely the key tourism sector (-65.2% vs -90%); transportation services (-32.8% vs -55.7%); internal trade (-11.7% vs -26.5%); manufacturing (-2.6% vs -22% and construction (-12.5% vs -17.1%). Household consumption fell by 4.3 percent in Q4 and 3.2 percent in 2020 mostly due to the effects of the lockdown measures. Considering the full year of 2020, the economy slumped 7.1%. The IMF has predicted that the fiscal deficit, projected to remain at 3.7% of GDP in 2019, will stabilize to around 3% of GDP after 2020. Morocco gdp for 2017 was $109.68B, a 6.17% increase from 2016. Search and explore the world’s largest statistical database to find data. Definition: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year. Africa’s economic growth remained stable in 2019 at 3.4 percent and is on course to pick up to 3.9 percent in 2020 and 4.1 percent in 2021, the African Development Bank’s 2020 African Economic Outlook (AEO) revealed Thursday. GDP growth (annual %) - Morocco. Inflation is expected to reach 2.9% in 2008 due to the rising costs of energy. It was the weakest pace of expansion since comparable data began in Q1 of 2006, amid the initial impact of the global pandemic. Our website uses cookies to improve your online experience. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2020, building on the lifetimes work of Angus Maddison. Morocco GDP (Gross Domestic Product) was INT$262.02billion for 2020 in PPP terms. The Services sector is the most important and accounts for 54 percent to total GDP. Egypt remains foremost African recipient of Foreign Direct Investment in 2020, says UNCTAD Morocco GDP (Gross Domestic Product) was INT$262.02billion for 2020 in PPP terms. Growth will average 3.1% in 2022-25, underpinned by stronger trade and tourism, but the economy will remain exposed to swings in agricultural output. The economy of Morocco has suffered dire consequences from the COVID–19 pandemic, experiencing its first recession in more than two decades in 2020. Imports of goods and services contracted by 16% in 2020, which resulted in a contraction of the CAD to 1.8% of GDP. 2021 Projected Real GDP (% Change) : 4.5; 2021 Projected Consumer Prices (% Change): 0.8; Country Population: 35.952 million; Date of Membership: April 25, 1958; Article IV/Country Report: … Real GDP is projected to contract by 6.3% in 2020, primarily due to the COVID-19 pandemic, but also due to poor rainfall conditions. Its Gross Savings Rate was measured at 28.4 % in Dec 2019. 1.1% (2016 est.) Label. Aggregates are based on constant U.S. dollars. US-China AI Competition | Who is Winning? The report said that the agricultural sector shrank by 7.3 percent in Q4 and non-agricultural sectors by 5.5 percent. However, in the subsequent year (2013), Morocco advanced beyond this mark with a 4.7 percent increase in GDP. Remittance inflows (5.9% of GDP in 2017-2019) increased in 2020 and will continue to support Morocco's external metrics. King Mohammed VI remains the ultimate arbiter of power, but the political spectrum is increasingly polarised. Looking forward, we estimate GDP Growth Rate in Morocco to stand at -2.10 in 12 months time. Industry accounts for 23 percent of the GDP and the largest segments within this sector are: manufacturing (15 percent of total GDP); construction (5 percent); electricity and water supply (2 percent); and mining (2 percent). GDP From Agriculture in Morocco decreased to 26786 MAD Million in the fourth quarter of 2020 from 28896 MAD Million in the third quarter of 2020. GDP per Capita in Morocco (with a population of 35,581,255 people) was $3,354 in 2017, an increase of $90 from $3,264 in 2016; this represents a change of 2.8% in GDP … ... when GDP shrunk 1.6% during a time of social and economic tumult. Enditem Morocco's real gross domestic product (GDP) growth is expected to rebound to 4.8% in 2021, driven by an easing of the disruptions from the health crisis and improved rainfall following a two-year drought, MAP news agency reported citing U.S. rating agency Fitch forecasts. Despite Morocco's economic progress, the country suffers from high unemployment, poverty, and illiteracy, particularly in rural areas. The Agriculture sector accounts for 13 percent of GDP. Source: CIA World Factbook - This page was last updated on Friday, November 27, 2020 See Also. Though Morocco GDP per capita growth fluctuated substantially in recent years, it tended to decrease through 1970 - 2019 period ending at 1 % in 2019. We forecast the CAD to widen and average 4.1% of GDP in 2021-2022 as export growth lags. Morocco has revised upward its GDP growth rate in 2018 to 3.6 percent from initially estimated 3.2 percent. G20 GDP showed a strong recovery in the third quarter of 2020, but remained below pre-pandemic high Download the entire news release (PDF 120KB) 14 Dec. 2020 - Gross domestic product (GDP) in the G20 area rebounded by 8.1% in the third quarter of 2020 following the unprecedented falls in the first half of the year due to COVID-19 containment measures. With a projected gdp growth rate of 26.21% in 2020, Guyana is the fastest growing economy in the world. In the long-term, the Morocco GDP is projected to trend around 117.00 USD Billion in 2021 and 122.00 USD Billion in 2022, according to our econometric models. $286.8 billion (2016 est.) 30 December 2020 (Agency Morocaine De Presse) Morocco's GDP has declined by 7.2% in the third quarter of 2020, against a 2.4% increase in 2019, according to … The COVID-19 pandemic has abruptly interrupted more than two decades of sustained socio-economic progress in Morocco. Morocco's economic growth should rebound by 4.6% in 2021 after contracting by 7% last year under the double impact of the COVID-19 pandemic and a … The slower than expected growth is partly due to the moderate expansion of the continent’s “big five” — Algeria, Egypt, Morocco, Nigeria, and South GDP Growth rate(%) 2020-6.971: 2021: 4.922: 2022: 3.545: 2023: 3.650: 2024: 3.683: 2025: 3.740 Knoema, an Eldridge business, is the most comprehensive source of global decision-making data in the world. The report shows an improve in GDP growth in 2020 compared to the forecast 2.9-percent growth for 2019. Our Insights blog presents deep data-driven analysis and visual content on important global issues from the expert data team at Knoema. Egypt’s GDP growth projected to climb to 5.4% in 2021: UN economic report. Oct 06, 2020. 10Y. October 12, 2020. GDP - real growth rate: 4.1% (2017 est.) - … Though Morocco GDP growth fluctuated substantially in recent years, it tended to decrease through 1970 - 2019 period ending at 2.5 % in 2019. They were placed on your computer when you launched this website. Morocco The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. Morocco’s GDP to drop by 6.3% in 2020 While continuing to monitor the economic and financial situation closely in the country and at the international level, the bank decided to maintain its key rate unchanged at 1.5 per cent. With a projected gdp growth rate of 26.21% in 2020, Guyana is the fastest growing economy in the world. Poor weather conditions continued to weigh on the agricultural sector (-5.2% vs -5% in Q4). 1999-2020 Data | 2021-2023 Forecast | Calendar. Morocco is the sixth largest economy in Africa. Only these four countries have a gdp growth rate above 3%. Morocco Jobless Rate Rises to 12.5% in Q1, Morocco March Inflation Rate Slows to 0.1%, Morocco Holds Key Interest Rate Steady at 1.5%, Morocco Industrial Output Falls at Slower Pace in Q4, Fitch Downgrades Morocco's Credit Rating to BB+, Mexico Private Investment Retreats Less than Expected, Malta Industrial Output Shrinks the Least in 4 Months, South Africa Factory Output Growth Tops Estimates, US Small Business Optimism Improves to 5-Month High, Eurozone Investor Morale Strongest since 2000, German Investor Morale at Over 20-Year High. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor education that prevail in the country where she lives. The African Development Bank (AfDB) expects a 4 pc GDP growth in Morocco in 2021 after the country’s economic activity was affected like other countries around the world by the Covid-19 pandemic. GDP Per Capita in Morocco reached 3,363.7 USD in Dec 2019. 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%). Growth rate in GDP per capita in India 2014-2016 by city Revenue deficit across Tripura in India FY 2012-2020 Revenue deficit across Punjab in India FY 2012-2020 Real GDP declined by –5.9% in 2020, after growing 2.5% in 2019. Updated 11:17 AM ET, Mon January 18, 2021 . 1967 - 2019. Inflation is expected to reach 2.9% in 2008 due to the rising costs of energy. Estimates by world bank since 1960 in nominal terms and since 1990 in ppp terms at current and constant prices. Morocco Economic Monitor, Fall 2020: ... GDP growth is projected to be 0.6% in the region in 2019, a fraction of what is needed to create enough jobs for the fast-growing working-age population in the Middle East and North Africa region. 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