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Economy of Morocco vs Paraguay compared: GDP & Debt

Updated on by Georank

Morocco has a GDP of $182B compared to $49.3B for Paraguay, ranking 58/197 and 97/197 by economy size, respectively.

Morocco has $122B in government debt (67.1% of GDP), compared to $18.8B (38.1% of GDP) in Paraguay.

Morocco vs Paraguay GDP by year

Morocco
Paraguay
1x
Year GDP, current $
Morocco Paraguay
2025 $182,374,250,612 $49,278,227,554
2024 $160,610,994,055 $44,738,819,362
2023 $146,036,093,667 $43,140,465,596
2022 $131,245,312,804 $41,841,201,627
2021 $142,022,058,447 $39,937,357,256
2020 $121,353,645,057 $35,432,178,068
2019 $128,920,266,409 $37,925,338,329
2018 $127,341,147,582 $40,225,448,341
2017 $118,540,573,368 $38,997,129,474
2016 $111,572,947,005 $36,089,700,223
2015 $110,413,823,842 $36,211,447,840
2014 $119,130,841,412 $40,377,929,296
2013 $115,739,287,305 $38,501,122,141
2012 $106,937,392,311 $33,271,921,136
2011 $110,080,631,332 $33,756,238,767
2010 $100,865,329,473 $27,260,886,405
2009 $101,154,952,241 $22,355,151,162
2008 $101,822,906,949 $24,615,267,664
2007 $86,947,913,287 $17,856,393,235
2006 $75,883,823,301 $13,429,430,050
2005 $68,852,658,069 $10,737,500,188
2004 $66,114,145,451 $9,624,440,836
2003 $58,029,363,354 $7,691,367,471
2002 $47,077,192,188 $7,196,260,657
2001 $43,831,480,208 $8,495,806,432
2000 $43,017,455,402 $8,855,705,140
1999 $46,266,428,648 $8,837,070,236
1998 $46,497,608,725 $9,260,481,572
1997 $39,147,844,526 $9,965,225,678
1996 $43,161,571,528 $9,788,391,781
1995 $39,030,285,468 $9,062,131,475
1994 $35,604,137,423 $7,870,982,005
1993 $31,655,473,664 $7,249,533,620
1992 $33,711,069,431 $7,157,424,031
1991 $32,285,573,574 $6,984,367,763
1990 $30,179,954,775 $5,812,114,523
1989 $26,314,313,191 $4,757,732,200
1988 $25,705,296,184 $4,255,683,528
1987 $21,765,195,948 $3,971,044,724
1986 $19,462,085,540 $3,723,993,943
1985 $14,991,283,216 $3,282,449,236
1984 $14,824,667,954 $4,502,462,807
1983 $16,251,408,128 $5,673,248,726
1982 $17,692,276,734 $5,419,411,765
1981 $17,788,185,479 $5,624,515,873
1980 $21,728,516,153 $4,448,087,302
1979 $15,911,994,817 $3,416,777,778
1978 $13,236,946,234 $2,559,857,143
1977 $11,049,783,872 $2,092,158,730
1976 $9,584,297,284 $1,698,960,317
1975 $8,984,853,005 $1,511,420,635
1974 $7,675,466,449 $1,333,475,397
1973 $6,242,145,880 $995,531,746
1972 $5,074,117,545 $769,039,683
1971 $4,356,669,034 $664,571,429
1970 $3,956,336,244 $594,611,111
1969 $3,651,622,669 $556,293,651
1968 $3,271,422,333 $517,650,794
1967 $3,046,345,314 $492,674,603
1966 $2,876,401,297 $465,888,889
1965 $2,948,331,090 $443,587,302
1964 $2,798,345,299 $408,349,206
1963 $2,657,252,578 $383,904,762
1962 $2,379,611,125 $360,698,413
1961 $2,025,693,540 $322,053,713
1960 $2,037,154,742 $288,884,368

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/morocco/paraguay | CC BY

GDP per capita in Morocco vs Paraguay by year

Morocco
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Morocco Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,746 - $7,027 -
2024 $4,218 $10,415 $6,457 $18,524
2023 $3,872 $9,895 $6,303 $17,564
2022 $3,516 $9,310 $6,189 $16,347
2021 $3,843 $8,623 $5,975 $15,406
2020 $3,317 $7,705 $5,365 $14,309
2019 $3,560 $8,046 $5,821 $14,150
2018 $3,553 $7,801 $6,258 $14,139
2017 $3,344 $8,115 $6,152 $13,977
2016 $3,186 $7,853 $5,775 $13,329
2015 $3,190 $7,799 $5,879 $12,679
2014 $3,483 $7,237 $6,652 $12,607
2013 $3,425 $7,542 $6,436 $12,137
2012 $3,206 $7,308 $5,642 $10,954
2011 $3,345 $7,274 $5,805 $11,442
2010 $3,107 $6,849 $4,751 $10,893
2009 $3,158 $6,629 $3,942 $9,802
2008 $3,222 $6,437 $4,385 $9,867
2007 $2,788 $6,058 $3,212 $9,179
2006 $2,466 $5,781 $2,439 $8,561
2005 $2,268 $5,275 $1,971 $8,007
2004 $2,207 $5,025 $1,786 $7,686
2003 $1,962 $4,741 $1,444 $7,276
2002 $1,612 $4,436 $1,368 $6,924
2001 $1,521 $4,269 $1,638 $6,916
2000 $1,513 $3,930 $1,736 $6,937
1999 $1,651 $3,801 $1,766 $7,080
1998 $1,683 $3,740 $1,890 $7,227
1997 $1,439 $3,502 $2,079 $7,299
1996 $1,610 $3,551 $2,088 $7,040
1995 $1,478 $3,152 $1,979 $6,966
1994 $1,369 $3,315 $1,760 $6,542
1993 $1,236 $2,979 $1,662 $6,234
1992 $1,337 $2,979 $1,683 $5,952
1991 $1,302 $3,025 $1,685 $5,873
1990 $1,238 $2,777 $1,440 $5,637
1989 $1,099 - $1,211 -
1988 $1,094 - $1,114 -
1987 $944 - $1,069 -
1986 $861 - $1,031 -
1985 $678 - $935 -
1984 $687 - $1,319 -
1983 $772 - $1,710 -
1982 $862 - $1,680 -
1981 $890 - $1,793 -
1980 $1,117 - $1,457 -
1979 $839 - $1,149 -
1978 $716 - $883 -
1977 $613 - $740 -
1976 $545 - $616 -
1975 $524 - $562 -
1974 $459 - $508 -
1973 $382 - $389 -
1972 $319 - $308 -
1971 $280.6 - $272.1 -
1970 $261.5 - $249 -
1969 $247.8 - $238.2 -
1968 $228 - $226.8 -
1967 $218.1 - $220.9 -
1966 $211.5 - $213.9 -
1965 $222.7 - $208.7 -
1964 $216.9 - $197 -
1963 $211.3 - $189.9 -
1962 $194.2 - $182.8 -
1961 $169.8 - $167.1 -
1960 $175.2 - $153.4 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/morocco/paraguay | CC BY

Morocco's GDP per capita is $4,746, ranking 126/197, compared to $7,027 in Paraguay, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Morocco ranks 132nd at $10,415, while Paraguay ranks 102nd at $18,524.

Economic indicators

Morocco Paraguay
Gross domestic product
$182B
2025
$49.3B
2025
GDP rank
58/197
2025
97/197
2025
GDP growth
4.6%
2024-2025
6.64%
2024-2025
GDP per capita
$4,746
2025
$7,027
2025
GDP per capita rank
126/197
2025
105/197
2025
GDP per capita, PPP
$10,415
2024
$18,524
2024
GDP per capita PPP rank
132/197
2024
102/197
2024
Government debt
$122B
2025
$18.8B
2025
Debt-to-GDP ratio
67.1%
2025
38.1%
2025
Government debt per person
$3,183
2025
$2,679
2025
Government debt per person rank
102/185
2025
111/185
2025
Average annual personal income after taxes
$4,045
2026
$6,874
2026
Market capitalization of domestic companies
$114B
2025
$313M
1999
Number of billionaires
3
2026
n/a
Income share by richest 10%
31.9%
2013
35%
2024
Income share by poorest 10%
2.7%
2013
2%
2024
Government expenditure, % of GDP
31.3%
2025
19.6%
2025
Consumer prices inflation
0.7%
2024-2025
4.04%
2024-2025
Central bank interest rate
2.25%
2025
5.75%
2026
Unemployment rate
11.8%
2022
4.63%
2025
Population
38938817
7138671

Spending and national debt comparison by year

Morocco
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Morocco Paraguay
Government spending Government debt Government spending Government debt
2025 31.3% 67.1% 19.6% 38.1%
2024 30.9% 67.7% 20.9% 44.6%
2023 30.2% 68.7% 21.5% 41%
2022 31.8% 71.4% 20.2% 40.6%
2021 30.1% 69.4% 20.5% 37.5%
2020 34.1% 72.2% 22.6% 36.9%
2019 27% 60.3% 20.1% 25.8%
2018 27.8% 60.5% 18.5% 22.3%
2017 27.9% 60.3% 18.1% 19.8%
2016 28.6% 60.1% 17.7% 19.4%
2015 28.5% 58.4% 18% 18.6%
2014 30.7% 58.6% 17.1% 15.6%
2013 30.4% 57.1% 17.1% 13.5%
2012 32.5% 52.3% 17.6% 12.3%
2011 31.2% 48.6% 14.7% 11.1%
2010 28.7% 45.3% 13.3% 13%
2009 28.1% 42.6% 14.3% 14.9%
2008 28.3% 42% 11.8% 16%
2007 26.4% 47.1% 13.1% 16.8%
2006 26% 50.6% 14.1% 21%
2005 28.6% 54.8% 14% 28.3%
2004 24.5% 54.4% 14% 36%
2003 24.1% 56.9% 14.6% 37.5%
2002 25.8% 59.4% 17.6% 50.5%
2001 23.7% 60.4% 19% 37.1%
2000 22.8% 64.9% 19.6% 33.6%
1999 18.4% 63.4% 19.2% 32%
1998 18.7% 64.5% 18% 22.1%
1997 18.6% 68% 18.1% 18%
1996 17.6% 65.3% 16.9% 16.8%
1995 21.3% 72.2% 15.7% 17.6%
1994 21.7% 69.3% 14.5% 18.7%
1993 23.1% 74.7% 12.9% 26.6%
1992 22.3% 67% 13% 34.4%
1991 20.8% 59.1% 11.4% 49.4%
1990 22.6% 70.5% 10.5% 67%
1989 - - 11.8% 52.9%
1988 - - 9.75% 58.9%
1987 - - 10.1% 68.7%
1986 - - 9.25% 57.1%
1985 - - 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08).

GeoRank.org/economy/morocco/paraguay | CC BY

In 2025, Morocco's government spending was $57B, accounting for 31.3% of its GDP, while Paraguay spent $9.66B, or 19.6% of GDP.

Debt-to-GDP ratio is 67.1% in Morocco and 38.1% in Paraguay, ranking 64/185 and 138/185, respectively.

Government deficit by year

Deficit/surplus
Morocco

Paraguay
1x
Year Deficit/surplus, % of GDP
Morocco Paraguay
2025 -3.54% -1.69%
2024 -3.92% -2.1%
2023 -4.41% -3.81%
2022 -5.37% -2.65%
2021 -5.92% -3.39%
2020 -7.15% -5.72%
2019 -3.8% -2.44%
2018 -3.52% -1.01%
2017 -3.3% -0.44%
2016 -4.49% -0.37%
2015 -4.59% -0.44%
2014 -4.78% -0.27%
2013 -4.7% -1.16%
2012 -6.63% -0.58%
2011 -6.08% 1.29%
2010 -3.93% 1.54%
2009 -1.63% 0.59%
2008 0.63% 2.29%
2007 -0.12% 1.27%
2006 -1.8% 0.91%
2005 -5.46% 0.74%
2004 -3.31% 1.33%
2003 -3.74% -0.07%
2002 -4.37% -1.89%
2001 -3.79% 0.07%
2000 -1.97% -0.55%
1999 3.21% 2.67%
1998 1.47% 4.28%
1997 1.5% 3%
1996 0.87% 2.43%
1995 -2.54% 2.78%
1994 -2.51% 4.59%
1993 -2% 4.27%
1992 -1.84% 3.1%
1991 -0.9% 3.41%
1990 -1.32% 7.56%
1989 - 5.48%
1988 - 3.01%
1987 - 2.68%
1986 - 3.08%
1985 - 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08).

GeoRank.org/economy/morocco/paraguay | CC BY

In 2025, Morocco's government deficit, the difference between spending and revenue, was $6.46B, equivalent to 3.54% of GDP. This compares to Paraguay's deficit of $832M, or 1.69% of GDP.

Over the past 36 years, Morocco recorded a fiscal deficit in 31 of those years, while Paraguay ran a deficit in 17 years. On average, Morocco posted an annual deficit equal to 2.94% of GDP, compared to surplus of 0.54% of GDP for Paraguay.

Inflation comparison by year

Inflation
Morocco

Paraguay
1x
Year Consumer prices inflation
Morocco Paraguay
2025 0.7% 4.04%
2024 0.99% 3.84%
2023 6.09% 4.63%
2022 6.66% 9.77%
2021 1.4% 4.79%
2020 0.71% 1.77%
2019 0.3% 2.76%
2018 1.8% 3.98%
2017 0.75% 3.6%
2016 1.64% 4.09%
2015 1.56% 3.13%
2014 0.44% 5.03%
2013 1.88% 2.68%
2012 1.29% 3.68%
2011 0.91% 8.25%
2010 0.99% 4.65%
2009 0.97% 2.59%
2008 3.71% 10.2%
2007 2.04% 8.13%
2006 3.28% 9.59%
2005 0.98% 6.81%
2004 1.49% 4.32%
2003 1.17% 14.2%
2002 2.8% 10.5%
2001 0.62% 7.27%
2000 1.89% 8.98%
1999 0.68% 6.75%
1998 2.75% 11.6%
1997 1.04% 6.95%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/morocco/paraguay | CC BY

Over the past 29 years, Morocco has recorded an average annual inflation rate of 1.78%, compared with 6.16% in Paraguay. In 2025, inflation was 0.7% in Morocco and 4.04% in Paraguay.

Top exports between countries

Morocco
Export category Export value
Chemicals & pharma $3.44M
Raw materials & minerals $541K
Machinery & equipment $307K
Textiles & consumer goods $52K
Wood & paper products $11K
Metals $1K
Paraguay
Export category Export value
Raw agricultural goods $4.62M
Animal & marine products $3.15M
Wood & paper products $95K
Machinery & equipment $92K
Chemicals & pharma $3K
Textiles & consumer goods $1K

Balance of trade

Morocco Paraguay
Current account balance
-$4.56B
2025
-$1.57B
2025
Current account balance ranking
163/190
2025
131/190
2025
Current account balance, % of GDP
-2.5%
2025
-3.18%
2025
Goods imports
$77.2B
2025
$17.5B
2025
Goods exports
$43.7B
2025
$15.4B
2025
Service imports
$16.7B
2025
$2.75B
2025
Service exports
$33.6B
2025
$3.72B
2025
Imports of goods and services, % of GDP
51.1%
2025
39.3%
2025
Exports of goods and services, % of GDP
42%
2025
37.2%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Morocco Paraguay
Economic freedom 61.8 66.4
Economic freedom ranking 91/197 61/197
Property rights 55.2 44.2
Government integrity 35.6 27.3
Judicial effectiveness 32.5 38.4
Tax burden 65.5 95.9
Government spending 67.5 86.9
Fiscal health 57.5 83
Business freedom 72.1 72
Labor freedom 46.2 44.1
Monetary freedom 79.6 76.5
Trade freedom 69.8 78.4
Investment freedom 80 80
Financial freedom 80 70

Economic freedom comparison by year

Morocco
Paraguay
1x
Year Economic freedom index
Morocco Paraguay
2026 61.8 66.4
2025 60.3 65.2
2024 56.8 60.1
2023 58.4 61
2022 59.2 62.9
2021 63.3 62.6
2020 63.3 63
2019 62.9 61.8
2018 61.9 62.1
2017 61.5 62.4
2016 61.3 61.5
2015 60.1 61.1
2014 58.3 62
2013 59.6 61.1
2012 60.2 61.8
2011 59.6 62.3
2010 59.2 61.3
2009 57.7 61
2008 55.6 60
2007 56.4 58.3
2006 51.5 55.6
2005 52.2 53.4
2004 56.7 56.7
2003 57.8 58.2
2002 59 59.6
2001 63.9 60.3
2000 63.2 64
1999 63.8 63.7
1998 61.1 65.2
1997 64.7 67.3
1996 64.3 67.1
1995 62.8 65.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/morocco/paraguay | CC BY

The Economic Freedom Index for Morocco is 61.8, ranking 91/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Morocco Paraguay
Services, % of GDP
52.3%
2025
48.1%
2025
Industry, % of GDP
25.2%
2025
32.3%
2025
Agriculture, forestry, and fishing, % of GDP
10.5%
2025
11.6%
2025
GNI, Atlas method
$170B
2025
$47.4B
2025
GNI per capita, PPP
$10,960
2025
$19,390
2025
Total reserves including gold
$48.5B
2025
$9.57B
2024
Total reserves ranking
50/177
2025
82/177
2024
Net foreign direct investment
-$2.51B
2025
-$945M
2025
Net inflows of foreign direct investment
$1.75B
2024
$1.1B
2024
Net outflows of foreign direct investment
$679M
2024
$166M
2024
Servicing debt to the IMF, % of GNI
5.63%
2024
4.58%
2024
Poverty at national poverty lines
3.9%
2022
20.1%
2024
Gross capital formation, % of GDP
31.9%
2025
25.3%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/morocco/paraguay | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2021–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.