Indicators of economy in Morocco

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in Morocco 2020. Overall, gross domestic product in 2020 fell from 128.92 billion US dollars to 121.35 billion US dollars. With a drop of 5.9 percent, the economy in Morocco suffered more significant losses than other countries. The tourism sector alone slumped by around 55 percent. The unemployment rate rose from 9.2 to 11.1 percent. The consumer inflation rate has risen from 0.3 percent previously to 0.7 percent now.

In 2021, there was already a recovery and the gross domestic product increased to 142.87 billion US dollars (=110.8% of 2019).

Income and purchasing power

The average monthly income in Morocco is 302 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 60.3 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Morocco than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 87.1 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

In the Global Innovation Index, Morocco ranked 67th in 2022 with 28.8 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. The two largest listed companies in Morocco are Attijariwafa Bank with a market capitalization of 9.589 trillion dollars and Banque Centrale Populaire with 5.489 trillion dollars. They are the only companies nationwide to be included in the list of Forbes Global 2000 in 2022. This independent list publishes the 2000 largest companies worldwide annually. Attijariwafa Bank was ranked 1429th by Forbes and Banque Centrale Populaire was ranked 1929th.

Development of gross domestic product in billions of USD 1960 - 2021

Imports and Exports 2021

Development of imports and exports in billions of USD 1975 - 2021