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Gross domestic product (GDP) per capita in Morocco 2024*

The statistic shows gross domestic product (GDP) per capita in Morocco from 1984 to 2018, with projections up until 2024. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. In 2018, the GDP per capita in Morocco was around 3,365.52 U.S. dollars.

Morocco's economy

Morocco is considered to be a lower-middle-income country. This is evident when taking a closer look at GDP per capita: In 2014, Morocco's GDP per capita was only around 3,311.76 U.S. dollars, increasing slightly from around 2,926.67 U.S. dollars per capita in 2010. However, the future looks better - GDP per capita is expected to increase at a higher rate than previously due to strong economic growth that is projected. Low inflation will also help.

The country is expected to experience growth rates in the range of 3 to 5 percent each year. This growth is a result of a diversified economy and a push towards advancing the industrial sector. It is hoped that advancements in the industrial sector will help reduce stubbornly high unemployment which is expected to remain above 9 percent. Currently, 13 percent of economic growth is attributed to the agricultural sector - but production capacity is largely dependent on annual rainfall -, close to 30 percent pertains to the industrial sector and another 60 percent pertains to services.

GDP growth in Morocco has also benefitted from the drop in oil prices, as it is import-dependent regarding its energy supply. However, Morocco must prepare itself for when prices rise to previous levels again. However, overall, the outlook for Morocco is bright, but it will need to focus on competitiveness and productivity.

Morocco: Gross domestic product (GDP) per capita in current prices from 1984 to 2024*

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Source

Release date

October 2019

Region

Morocco

Survey time period

1984 to 2018

Supplementary notes

Due to the high level of uncertainty in current global economic conditions, the IMF does not offer projections for this economic indicator at this time. Data will be updated as soon as they are available.

* Estimate.

The values have been rounded to provide a better understanding of the statistic.

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Statistics on "Morocco"

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