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Morocco economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Morocco ranked 58/197 by economy size with a GDP of $161B and 127/197 by GDP per capita at $4,218. Morocco has $109B in government debt, with a debt-to-GDP ratio of 67.7%.

In 2024, Morocco made up 0.14% of the world's economy, compared to 0.15% in 1960.

Morocco GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $160,610,994,055 3.79%
2023 $146,036,093,667 3.66%
2022 $131,245,312,804 1.81%
2021 $142,022,058,447 8.15%
2020 $121,353,645,057 -7.18%
2019 $128,920,266,409 2.89%
2018 $127,341,147,582 3.07%
2017 $118,540,573,368 5.06%
2016 $111,572,947,005 0.52%
2015 $110,413,823,842 4.34%
2014 $119,130,841,412 2.72%
2013 $115,739,287,305 4.12%
2012 $106,937,392,311 3.06%
2011 $110,080,631,332 5.52%
2010 $100,865,329,473 3.5%
2009 $101,154,952,241 3.75%
2008 $101,822,906,949 5.68%
2007 $86,947,913,287 3.44%
2006 $75,883,823,301 7.79%
2005 $68,852,658,069 3.19%
2004 $66,114,145,451 4.57%
2003 $58,029,363,354 6.17%
2002 $47,077,192,188 3.73%
2001 $43,831,480,208 7.72%
2000 $43,017,455,402 2.58%
1999 $46,266,428,648 1.7%
1998 $46,497,608,725 7.24%
1997 $39,147,844,526 -1.56%
1996 $43,161,571,528 12.4%
1995 $39,030,285,468 -5.41%
1994 $35,604,137,423 10.6%
1993 $31,655,473,664 -0.74%
1992 $33,711,069,431 -2.1%
1991 $32,285,573,574 7.22%
1990 $30,179,954,775 3.41%
1989 $26,314,313,191 2.85%
1988 $25,705,296,184 11.9%
1987 $21,765,195,948 -0.33%
1986 $19,462,085,540 9.27%
1985 $14,991,283,216 6.01%
1984 $14,824,667,954 6.42%
1983 $16,251,408,128 1.39%
1982 $17,692,276,734 8.96%
1981 $17,788,185,479 -1.74%
1980 $21,728,516,153 3.64%
1979 $15,911,994,817 4.79%
1978 $13,236,946,234 2.23%
1977 $11,049,783,872 6.06%
1976 $9,584,297,284 10.8%
1975 $8,984,853,005 7.56%
1974 $7,675,466,449 5.6%
1973 $6,242,145,880 3.56%
1972 $5,074,117,545 2.44%
1971 $4,356,669,034 5.6%
1970 $3,956,336,244 4.71%
1969 $3,651,622,669 8.36%
1968 $3,271,422,333 9.89%
1967 $3,046,345,314 10%
1966 $2,876,401,297 -
1965 $2,948,331,090 -
1964 $2,798,345,299 -
1963 $2,657,252,578 -
1962 $2,379,611,125 -
1961 $2,025,693,540 -
1960 $2,037,154,742 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/morocco | CC BY

Morocco GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $4,218 $10,415
2023 $3,872 $9,895
2022 $3,516 $9,310
2021 $3,843 $8,623
2020 $3,317 $7,705
2019 $3,560 $8,046
2018 $3,553 $7,801
2017 $3,344 $8,115
2016 $3,186 $7,853
2015 $3,190 $7,799
2014 $3,483 $7,237
2013 $3,425 $7,542
2012 $3,206 $7,308
2011 $3,345 $7,274
2010 $3,107 $6,849
2009 $3,158 $6,629
2008 $3,222 $6,437
2007 $2,788 $6,058
2006 $2,466 $5,781
2005 $2,268 $5,275
2004 $2,207 $5,025
2003 $1,962 $4,741
2002 $1,612 $4,436
2001 $1,521 $4,269
2000 $1,513 $3,930
1999 $1,651 $3,801
1998 $1,683 $3,740
1997 $1,439 $3,502
1996 $1,610 $3,551
1995 $1,478 $3,152
1994 $1,369 $3,315
1993 $1,236 $2,979
1992 $1,337 $2,979
1991 $1,302 $3,025
1990 $1,238 $2,777
1989 $1,099 -
1988 $1,094 -
1987 $944 -
1986 $861 -
1985 $678 -
1984 $687 -
1983 $772 -
1982 $862 -
1981 $890 -
1980 $1,117 -
1979 $839 -
1978 $716 -
1977 $613 -
1976 $545 -
1975 $524 -
1974 $459 -
1973 $382 -
1972 $319 -
1971 $280.6 -
1970 $261.5 -
1969 $247.8 -
1968 $228 -
1967 $218.1 -
1966 $211.5 -
1965 $222.7 -
1964 $216.9 -
1963 $211.3 -
1962 $194.2 -
1961 $169.8 -
1960 $175.2 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/morocco | CC BY

Morocco has a GDP per capita of $4,218, ranking 127/197, a GDP per capita based on purchasing power parity (PPP) of $10,415, ranking 132/197, and a median annual after tax income of $5,678, ranking 108/197.

Morocco GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 58 119 121
2023 59 125 126
2022 59 132 126
2021 59 127 125
2020 58 129 126
2019 59 128 126
2018 59 128 126
2017 58 131 124
2016 58 128 124
2015 59 129 125
2014 61 127 127
2013 61 129 124
2012 61 129 121
2011 61 125 121
2010 60 119 121
2009 59 117 121
2008 58 119 121
2007 57 119 122
2006 56 114 122
2005 56 111 119
2004 54 109 115
2003 53 106 115
2002 53 107 115
2001 53 107 116
2000 54 107 117
1999 53 98 115
1998 53 103 111
1997 54 107 112
1996 54 102 108
1995 53 102 111
1994 53 98 107
1993 54 102 110
1992 54 96 111
1991 53 98 109
1990 56 99 112
1989 54 90 -
1988 53 92 -
1987 57 97 -
1986 53 95 -
1985 59 106 -
1984 58 105 -
1983 57 99 -
1982 55 96 -
1981 55 98 -
1980 49 87 -
1979 52 86 -
1978 53 85 -
1977 53 89 -
1976 53 91 -
1975 53 92 -
1974 54 92 -
1973 51 93 -
1972 50 92 -
1971 50 92 -
1970 50 92 -
1969 51 78 -
1968 51 77 -
1967 49 77 -
1966 48 79 -
1965 46 74 -
1964 45 69 -
1963 44 66 -
1962 43 67 -
1961 45 70 -
1960 45 67 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/morocco | CC BY

Compared with 2000, in 2024 Morocco is ranked 58th out of 182 by GDP (down from 54th), 119th by GDP per capita (down from 107th), and 121st by GDP per capita PPP (down from 117th).

Economic indicators

Morocco Rank
Gross domestic product
$161B
2024
58/197
GDP growth
3.79%
2023-2024
77/194
GDP per capita
$4,218
2024
127/197
GDP per capita, PPP
$10,415
2024
132/197
Government debt
$109B
2024
56/185
Debt-to-GDP ratio
67.7%
2024
60/185
Government debt per person
$2,857
2024
104/185
Average annual personal income after taxes
$5,678
2026
108/197
Listed domestic companies
76
2024
59/103
Market capitalization of domestic companies
$74.5B
2024
43/100
Number of billionaires
3
2025
52/78
Billionaire frequency
1 in 8,376,481
2025
65/78
Income share by richest 10%
31.9%
2013
38/169
Income share by poorest 10%
2.7%
2013
95/169
Government expenditure, % of GDP
33%
2024
80/195
Consumer prices inflation
0.99%
2023-2024
171/195
Central bank interest rate
2.25%
2025
92/106
Unemployment rate
11.8%
2022
27/196
Population
38871720
39/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 33% 67.7% -3.92%
2023 32% 68.7% -4.41%
2022 33.7% 71.4% -5.37%
2021 31% 69.4% -5.92%
2020 34.1% 72.2% -7.15%
2019 27.6% 60.3% -3.8%
2018 27.8% 60.5% -3.52%
2017 27.9% 60.3% -3.3%
2016 28.6% 60.1% -4.49%
2015 28.5% 58.4% -4.59%
2014 30.7% 58.6% -4.78%
2013 30.4% 57.1% -4.7%
2012 32.5% 52.3% -6.63%
2011 31.2% 48.6% -6.08%
2010 28.7% 45.3% -3.93%
2009 28.1% 42.6% -1.63%
2008 28.3% 42% 0.63%
2007 26.4% 47.1% -0.12%
2006 26% 50.6% -1.8%
2005 28.6% 54.8% -5.46%
2004 24.5% 54.4% -3.31%
2003 24.1% 56.9% -3.74%
2002 25.8% 59.4% -4.37%
2001 23.7% 60.4% -3.79%
2000 22.8% 64.9% -1.97%
1999 18.4% 63.4% 3.21%
1998 18.7% 64.5% 1.47%
1997 18.6% 68% 1.5%
1996 17.6% 65.3% 0.87%
1995 21.3% 72.2% -2.54%
1994 21.7% 69.3% -2.51%
1993 23.1% 74.7% -2%
1992 22.3% 67% -1.84%
1991 20.8% 59.1% -0.9%
1990 22.6% 70.5% -1.32%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/morocco | CC BY

This chart shows Morocco's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 35 years, Morocco recorded a fiscal deficit in 30 of them, with an average annual deficit equal to 2.92% of GDP. In 2024, government spending reached $53.1B (33% of GDP), with a deficit of 3.92%.

The national debt reached $109B, ranking 56th out of 185 countries by total size, with a debt-to-GDP ratio of 67.7%, ranking 60th.

Inflation rate by year

1x
Year Inflation
2024 0.99%
2023 6.09%
2022 6.66%
2021 1.4%
2020 0.71%
2019 0.3%
2018 1.8%
2017 0.75%
2016 1.64%
2015 1.56%
2014 0.44%
2013 1.88%
2012 1.29%
2011 0.91%
2010 0.99%
2009 0.97%
2008 3.71%
2007 2.04%
2006 3.28%
2005 0.98%
2004 1.49%
2003 1.17%
2002 2.8%
2001 0.62%
2000 1.89%
1999 0.68%
1998 2.75%
1997 1.04%
1996 2.99%
1995 6.12%
1994 5.14%
1993 5.18%
1992 5.74%
1991 7.99%
1990 6.78%
1989 3.26%
1988 2.37%
1987 2.7%
1986 8.73%
1985 7.73%
1984 12.4%
1983 6.21%
1982 10.5%
1981 12.5%
1980 9.41%
1979 8.33%
1978 9.72%
1977 12.6%
1976 8.5%
1975 7.92%
1974 17.6%
1973 4.08%
1972 3.76%
1971 4.16%
1970 1.28%
1969 2.95%
1968 0.44%
1967 -0.75%
1966 -1.01%
1965 3.48%
1964 4.02%
1963 5.7%
1962 5.1%
1961 1.76%
1960 3.42%

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/morocco | CC BY

Over the past 20 years, Morocco has had an average annual inflation rate of 1.92%. In 2024, inflation was 0.99%. The bar chart above shows consumer price inflation by year.

Balance of trade

Morocco Rank
Current account balance
-$1.87B
2024
141/190
Current account balance, % of GDP
-1.16%
2024
92/190
Goods imports
$66.5B
2024
47/189
Goods exports
$39.3B
2024
60/189
Service imports
$14.3B
2024
57/189
Service exports
$28.2B
2024
44/189
Imports of goods and services, % of GDP
50.2%
2024
79/181
Exports of goods and services, % of GDP
42%
2024
75/193

Morocco top 10 trading partners

Morocco's biggest trading partner accounting for 18.5% of all exports and imports is Spain, with a trade balance between the two of -$1.5B: Morocco exports $9.57B worth of goods and services to Spain and imports $11.1B.

Below is the list of the top 10 trade partners of Morocco.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 Spain $20.7B 18.5% $9.57B $11.1B Machinery & equipment Machinery & equipment
2 France $16.2B 14.5% $8.72B $7.47B Machinery & equipment Machinery & equipment
3 China $7.86B 7.05% $351M $7.51B Raw materials & minerals Machinery & equipment
4 United States $7.22B 6.48% $1.25B $5.97B Machinery & equipment Raw materials & minerals
5 Italy $5.6B 5.03% $2.2B $3.4B Machinery & equipment Machinery & equipment
6 Germany $5.31B 4.76% $1.82B $3.49B Machinery & equipment Machinery & equipment
7 Turkey $4.78B 4.29% $1.17B $3.61B Machinery & equipment Textiles & consumer goods
8 Brazil $2.76B 2.48% $1.2B $1.56B Raw materials & minerals Processed food, beverages & tobacco
9 United Kingdom $2.74B 2.46% $1.89B $843M Machinery & equipment Machinery & equipment
10 India $2.7B 2.42% $1.22B $1.48B Raw materials & minerals Machinery & equipment

Top 10 exports

Morocco Rank
Machinery & equipment $17.6B 41/193
Transport & tourism services $15.6B 40/188
Raw materials & minerals $8.98B 59/193
Textiles & consumer goods $5.47B 39/193
Business & finance services $4.26B 46/188
Raw agricultural goods $3.91B 35/193
Manufacturing & construction services $2.5B 30/164
Processed food, beverages & tobacco $2.47B 55/192
IT & IP services $2.1B 45/183
Animal & marine products $1.91B 41/192

Top 10 imports

Morocco Rank
Machinery & equipment $23B 46/193
Raw materials & minerals $15.5B 40/193
Transport & tourism services $7.71B 53/188
Textiles & consumer goods $6.78B 44/193
Chemicals & pharma $6.4B 58/193
Metals $5.67B 45/193
Raw agricultural goods $4.7B 31/193
Processed food, beverages & tobacco $4.39B 47/193
Wood & paper products $1.71B 45/193
Business & finance services $1.51B 75/188

Economic freedom indices

Morocco Rank
Economic freedom 61.8 91/197
Property rights 55.2 78/182
Government integrity 35.6 114/182
Judicial effectiveness 32.5 119/182
Tax burden 65.5 159/182
Government spending 67.5 108/180
Fiscal health 57.5 122/181
Business freedom 72.1 57/182
Labor freedom 46.2 156/182
Monetary freedom 79.6 22/180
Trade freedom 69.8 97/181
Investment freedom 80 17/181
Financial freedom 80 8/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 61.8 32.5 65.5 67.5 57.5
2025 60.3 32.7 71.4 67.9 46.2
2024 56.8 32.9 68 68.2 29.9
2023 58.4 38.7 67.9 72 41.3
2022 59.2 32.7 68.2 69.8 46
2021 63.3 51.2 68.3 73 68.5
2020 63.3 48 71.8 72.8 67.2
2019 62.9 47.1 72.2 72.7 66.9
2018 61.9 44.3 70.5 70.5 60.6
2017 61.5 41.9 71.7 69.4 55
2016 61.3 - 71.5 65.6 -
2015 60.1 - 70.9 61 -
2014 58.3 - 71.3 64.1 -
2013 59.6 - 71.4 64.3 -
2012 60.2 - 69.7 74.8 -
2011 59.6 - 67.8 74.6 -
2010 59.2 - 68.5 81.5 -
2009 57.7 - 65.1 76.5 -
2008 55.6 - 65.4 73.2 -
2007 56.4 - 63.2 78.1 -
2006 51.5 - 63.3 72.8 -
2005 52.2 - 63.1 73.2 -
2004 56.7 - 63.2 70.4 -
2003 57.8 - 62.5 67.9 -
2002 59 - 62.3 69.3 -
2001 63.9 - 62.3 82.7 -
2000 63.2 - 63 88 -
1999 63.8 - 63.4 95.1 -
1998 61.1 - 63.6 73.7 -
1997 64.7 - 62.1 76.3 -
1996 64.3 - 60.5 73.2 -
1995 62.8 - 57.5 72.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/morocco | CC BY

Morocco is ranked 81/174 for economic freedom with a score of 61.8, compared to 135/162 and a score of 51.5 in 2006.

Other economic metrics

Morocco Rank
Services, % of GDP
52.7%
2024
118/191
Industry, % of GDP
25.6%
2024
75/194
Agriculture, forestry, and fishing, % of GDP
10.6%
2024
68/193
GNI, Atlas method
$149B
2024
59/194
GNI per capita, PPP
$10,260
2024
127/191
Total reserves including gold
$37.1B
2024
52/177
Net foreign direct investment
-$948M
2024
117/189
Net inflows of foreign direct investment
$1.64B
2024
79/193
Net outflows of foreign direct investment
$691M
2024
55/193
Servicing debt to the IMF, % of GNI
5.63%
2024
43/121
Poverty at national poverty lines
3.9%
2022
173/176
Gross capital formation, % of GDP
30.1%
2024
34/178

Compare Morocco vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/morocco | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2023, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.