World Factbook

Morocco

Al Mamlakah al Maghribiyah

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$38.458 billion (2023 est.)

expenditures

$44.819 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2021

$47.09 billion (2021 est.)

Exports 2022

$58.575 billion (2022 est.)

Exports 2023

$61.746 billion (2023 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2021

$60.215 billion (2021 est.)

Imports 2022

$73.81 billion (2022 est.)

Imports 2023

$73.759 billion (2023 est.)

Industries

automotive parts, phosphate mining and processing, aerospace, food processing, leather goods, textiles, construction, energy, tourism

Labor force

12.475 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

64.9% of GDP (2016 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2021

7.7% of GDP (2021 est.)

Remittances 2022

8.5% of GDP (2022 est.)

Remittances 2023

8.1% of GDP (2023 est.)

Exchange rates

Currency

Moroccan dirhams (MAD) per US dollar -

Exchange rates 2020

9.497 (2020 est.)

Exchange rates 2021

8.988 (2021 est.)

Exchange rates 2022

10.161 (2022 est.)

Exchange rates 2023

10.131 (2023 est.)

Exchange rates 2024

9.942 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$42.262 billion (2023 est.)

Economic overview

lower middle-income North African economy; ongoing recovery from recent drought and earthquake; rebounding via tourism, manufacturing, and raw materials processing; significant trade and investment with EU; reform programs include fiscal rebalancing, state enterprise governance and private sector investments

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

9.5% (2022 est.)

Unemployment rate 2023

9.1% (2023 est.)

Unemployment rate 2024

9% (2024 est.)

Exports - partners

Spain 20%, France 17%, Germany 6%, UK 5%, Italy 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Spain 16%, China 11%, France 10%, USA 9%, Turkey 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$8,700 (2022 est.)

Real GDP per capita 2023

$8,900 (2023 est.)

Real GDP per capita 2024

$9,100 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

1.5% (2022 est.)

Real GDP growth rate 2023

3.4% (2023 est.)

Real GDP growth rate 2024

3.2% (2024 est.)

Agricultural products

wheat, milk, potatoes, sugar beets, tomatoes, barley, olives, apples, tangerines/mandarins, onions (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

fertilizers, cars, garments, insulated wire, tomatoes (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, cars, vehicle parts/accessories, natural gas, coal (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2021

-$3.349 billion (2021 est.)

Current account balance 2022

-$4.8 billion (2022 est.)

Current account balance 2023

-$891.222 million (2023 est.)

Taxes and other revenues

21% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$154.431 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

61.3% (2024 est.)

government consumption

18% (2024 est.)

investment in inventories

3.8% (2024 est.)

investment in fixed capital

26.1% (2024 est.)

exports of goods and services

43.3% (2024 est.)

imports of goods and services

-52.5% (2024 est.)

Population below poverty line

3.9% (2022 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

34.5% of household expenditures (2023 est.)

on alcohol and tobacco

2.1% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

6.7% (2022 est.)

Inflation rate (consumer prices) 2023

6.1% (2023 est.)

Inflation rate (consumer prices) 2024

1% (2024 est.)

Industrial production growth rate

5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$328.425 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$339.603 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$350.594 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

22% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

22.1% (2024 est.)

female

22.4% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$32.314 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$36.328 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$37.134 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

24.1% (2024 est.)

services

54.1% (2024 est.)

agriculture

10.1% (2024 est.)