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Economy of Morocco vs Romania compared: GDP & Debt

Updated on by Georank team

Morocco has a GDP of $161B compared to $383B for Romania, ranking 58/197 and 42/197 by economy size, respectively.

Morocco has $109B in government debt (67.7% of GDP), compared to $220B (57.4% of GDP) in Romania.

Morocco vs Romania GDP by year

Morocco
Romania
1x
Year GDP, current $
Morocco Romania
2024 $160,610,994,055 $382,564,217,989
2023 $146,036,093,667 $347,757,995,759
2022 $131,245,312,804 $295,319,437,557
2021 $142,022,058,447 $285,071,280,114
2020 $121,353,645,057 $250,625,048,304
2019 $128,920,266,409 $250,080,428,512
2018 $127,341,147,582 $241,791,427,224
2017 $118,540,573,368 $210,147,385,855
2016 $111,572,947,005 $185,290,759,249
2015 $110,413,823,842 $177,885,131,240
2014 $119,130,841,412 $199,722,319,676
2013 $115,739,287,305 $189,798,603,751
2012 $106,937,392,311 $179,117,323,107
2011 $110,080,631,332 $192,623,977,894
2010 $100,865,329,473 $170,064,350,672
2009 $101,154,952,241 $174,110,532,659
2008 $101,822,906,949 $214,315,932,061
2007 $86,947,913,287 $174,588,782,939
2006 $75,883,823,301 $122,023,735,993
2005 $68,852,658,069 $98,454,380,120
2004 $66,114,145,451 $74,973,656,852
2003 $58,029,363,354 $57,806,384,143
2002 $47,077,192,188 $46,065,502,703
2001 $43,831,480,208 $40,395,116,581
2000 $43,017,455,402 $37,253,739,511
1999 $46,266,428,648 $35,953,156,754
1998 $46,497,608,725 $41,696,091,974
1997 $39,147,844,526 $35,575,214,078
1996 $43,161,571,528 $36,937,074,278
1995 $39,030,285,468 $37,430,162,103
1994 $35,604,137,423 $30,072,805,104
1993 $31,655,473,664 $26,361,160,450
1992 $33,711,069,431 $25,121,666,667
1991 $32,285,573,574 $28,850,634,900
1990 $30,179,954,775 $38,247,882,300
1989 $26,314,313,191 $41,450,777,202
1988 $25,705,296,184 $40,424,528,302
1987 $21,765,195,948 $38,067,567,568
1986 $19,462,085,540 -
1985 $14,991,283,216 -
1984 $14,824,667,954 -
1983 $16,251,408,128 -
1982 $17,692,276,734 -
1981 $17,788,185,479 -
1980 $21,728,516,153 -
1979 $15,911,994,817 -
1978 $13,236,946,234 -
1977 $11,049,783,872 -
1976 $9,584,297,284 -
1975 $8,984,853,005 -
1974 $7,675,466,449 -
1973 $6,242,145,880 -
1972 $5,074,117,545 -
1971 $4,356,669,034 -
1970 $3,956,336,244 -
1969 $3,651,622,669 -
1968 $3,271,422,333 -
1967 $3,046,345,314 -
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/romania | CC BY

GDP per capita in Morocco vs Romania by year

Morocco
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Morocco Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,218 $10,415 $20,080 $49,077
2023 $3,872 $9,895 $18,244 $45,982
2022 $3,516 $9,310 $15,504 $41,979
2021 $3,843 $8,623 $14,908 $37,534
2020 $3,317 $7,705 $13,009 $34,194
2019 $3,560 $8,046 $12,910 $33,425
2018 $3,553 $7,801 $12,416 $29,383
2017 $3,344 $8,115 $10,728 $26,943
2016 $3,186 $7,853 $9,405 $23,905
2015 $3,190 $7,799 $8,977 $21,625
2014 $3,483 $7,237 $10,032 $20,633
2013 $3,425 $7,542 $9,498 $19,678
2012 $3,206 $7,308 $8,930 $19,808
2011 $3,345 $7,274 $9,561 $18,804
2010 $3,107 $6,849 $8,400 $17,355
2009 $3,158 $6,629 $8,548 $16,641
2008 $3,222 $6,437 $10,435 $16,782
2007 $2,788 $6,058 $8,360 $13,703
2006 $2,466 $5,781 $5,758 $11,554
2005 $2,268 $5,275 $4,618 $9,602
2004 $2,207 $5,025 $3,495 $8,989
2003 $1,962 $4,741 $2,679 $7,559
2002 $1,612 $4,436 $2,120 $7,162
2001 $1,521 $4,269 $1,825 $6,520
2000 $1,513 $3,930 $1,660 $5,850
1999 $1,651 $3,801 $1,600 $5,596
1998 $1,683 $3,740 $1,853 $5,545
1997 $1,439 $3,502 $1,577 $5,564
1996 $1,610 $3,551 $1,633 $5,746
1995 $1,478 $3,152 $1,650 $5,429
1994 $1,369 $3,315 $1,323 $4,995
1993 $1,236 $2,979 $1,158 $4,699
1992 $1,337 $2,979 $1,102 $4,515
1991 $1,302 $3,025 $1,254 $4,795
1990 $1,238 $2,777 $1,648 $5,280
1989 $1,099 - $1,790 -
1988 $1,094 - $1,753 -
1987 $944 - $1,659 -
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/romania | CC BY

Morocco's GDP per capita is $4,218, ranking 127/197, compared to $20,080 in Romania, ranking 58/197. Adjusted for purchasing power (GDP per capita PPP), Morocco ranks 132nd at $10,415, while Romania ranks 47th at $49,077.

Economic indicators

Morocco Romania
Gross domestic product
$161B
2024
$383B
2024
GDP rank
58/197
2024
42/197
2024
GDP growth
3.79%
2023-2024
0.92%
2023-2024
GDP per capita
$4,218
2024
$20,080
2024
GDP per capita rank
127/197
2024
58/197
2024
GDP per capita, PPP
$10,415
2024
$49,077
2024
GDP per capita PPP rank
132/197
2024
47/197
2024
Government debt
$109B
2024
$220B
2024
Debt-to-GDP ratio
67.7%
2024
57.4%
2024
Government debt per person
$2,857
2024
$11,533
2024
Government debt per person rank
104/185
2024
48/185
2024
Average annual personal income after taxes
$5,678
2026
$13,912
2026
Market capitalization of domestic companies
$74.5B
2024
$47.4B
2024
Number of billionaires
3
2025
6
2025
Income share by richest 10%
31.9%
2013
21.8%
2023
Income share by poorest 10%
2.7%
2013
2.4%
2023
Government expenditure, % of GDP
33%
2024
39.9%
2024
Consumer prices inflation
0.99%
2023-2024
5.6%
2023-2024
Central bank interest rate
2.25%
2025
6.5%
2024
Unemployment rate
11.8%
2022
5.43%
2024
Population
38871720
18839108

Spending and national debt comparison by year

Morocco
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Morocco Romania
Government spending Government debt Government spending Government debt
2024 33% 67.7% 39.9% 57.4%
2023 32% 68.7% 36.6% 52.1%
2022 33.7% 71.4% 37.4% 51.7%
2021 31% 69.4% 37% 51.5%
2020 34.1% 72.2% 38.1% 49.3%
2019 27.6% 60.3% 33.2% 36.5%
2018 27.8% 60.5% 31.7% 36.2%
2017 27.9% 60.3% 31% 37.1%
2016 28.6% 60.1% 31.8% 39.5%
2015 28.5% 58.4% 34.2% 39.4%
2014 30.7% 58.6% 33.8% 40.5%
2013 30.4% 57.1% 34.2% 39.3%
2012 32.5% 52.3% 33.5% 36.2%
2011 31.2% 48.6% 35% 32.6%
2010 28.7% 45.3% 37.4% 30.2%
2009 28.1% 42.6% 36.3% 22.5%
2008 28.3% 42% 35.3% 13%
2007 26.4% 47.1% 34.6% 12.4%
2006 26% 50.6% 33.9% 12.7%
2005 28.6% 54.8% 32.3% 17.8%
2004 24.5% 54.4% 33.7% 21.3%
2003 24.1% 56.9% 31.8% 24.9%
2002 25.8% 59.4% 32.1% 27.4%
2001 23.7% 60.4% 33.2% 27.4%
2000 22.8% 64.9% 35% 29.6%
1999 18.4% 63.4% 35.1% 21.7%
1998 18.7% 64.5% 34.7% 16.5%
1997 18.6% 68% 33.5% 15%
1996 17.6% 65.3% 33.5% 11%
1995 21.3% 72.2% 34.4% 6.91%
1994 21.7% 69.3% 33.1% -
1993 23.1% 74.7% 33.5% -
1992 22.3% 67% 41.5% -
1991 20.8% 59.1% 38.3% -
1990 22.6% 70.5% 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20).

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

In 2024, Morocco's government spending was $53.1B, accounting for 33% of its GDP, while Romania spent $153B, or 39.9% of GDP.

Debt-to-GDP ratio is 67.7% in Morocco and 57.4% in Romania, ranking 60/185 and 87/185, respectively.

Government deficit by year

Deficit/surplus
Morocco

Romania
1x
Year Deficit/surplus, % of GDP
Morocco Romania
2024 -3.92% -8.68%
2023 -4.41% -5.61%
2022 -5.37% -5.83%
2021 -5.92% -6.7%
2020 -7.15% -9.54%
2019 -3.8% -4.55%
2018 -3.52% -2.74%
2017 -3.3% -2.86%
2016 -4.49% -2.5%
2015 -4.59% -1.35%
2014 -4.78% -1.76%
2013 -4.7% -2.44%
2012 -6.63% -2.39%
2011 -6.08% -4.14%
2010 -3.93% -6.22%
2009 -1.63% -6.86%
2008 0.63% -4.6%
2007 -0.12% -3.05%
2006 -1.8% -1.36%
2005 -5.46% -0.69%
2004 -3.31% -3.39%
2003 -3.74% -2.29%
2002 -4.37% -2.59%
2001 -3.79% -3.2%
2000 -1.97% -3.99%
1999 3.21% -3.58%
1998 1.47% -5.33%
1997 1.5% -5.19%
1996 0.87% -4.74%
1995 -2.54% -3.32%
1994 -2.51% -2.2%
1993 -2% -0.35%
1992 -1.84% -4.55%
1991 -0.9% 3.23%
1990 -1.32% 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

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

In 2024, Morocco's government deficit, the difference between spending and revenue, was $6.3B, equivalent to 3.92% of GDP. This compares to Romania's deficit of $33.2B, or 8.68% of GDP.

Over the past 35 years, Morocco recorded a fiscal deficit in 30 of those years, while Romania ran a deficit in 33 years. On average, Morocco posted an annual deficit equal to 2.92% of GDP, compared to deficit of 3.55% of GDP for Romania.

Inflation comparison by year

Inflation
Morocco

Romania
1x
Year Consumer prices inflation
Morocco Romania
2024 0.99% 5.6%
2023 6.09% 10.4%
2022 6.66% 13.8%
2021 1.4% 5%
2020 0.71% 2.6%
2019 0.3% 3.8%
2018 1.8% 4.6%
2017 0.75% 1.3%
2016 1.64% -1.6%
2015 1.56% -0.6%
2014 0.44% 1.1%
2013 1.88% 4%
2012 1.29% 3.3%
2011 0.91% 5.8%
2010 0.99% 6.1%
2009 0.97% 5.6%
2008 3.71% 7.8%
2007 2.04% 4.8%
2006 3.28% 6.6%
2005 0.98% 9%
2004 1.49% 11.9%
2003 1.17% 15.4%
2002 2.8% 22.5%
2001 0.62% 34.5%
2000 1.89% 45.7%
1999 0.68% 45.8%
1998 2.75% 59.1%
1997 1.04% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Morocco has recorded an average annual inflation rate of 1.82%, compared with 17.5% in Romania. In 2024, inflation was 0.99% in Morocco and 5.6% in Romania.

Top exports between countries

Morocco
Export category Export value
Machinery & equipment $404M
Raw materials & minerals $69.4M
Textiles & consumer goods $9.86M
Processed food, beverages & tobacco $3.6M
Chemicals & pharma $3.42M
Raw agricultural goods $1.36M
Animal & marine products $702K
Metals $119K
Wood & paper products $44K
Miscellaneous $1K
Romania
Export category Export value
Machinery & equipment $694M
Raw agricultural goods $113M
Raw materials & minerals $83.3M
Metals $43.9M
Chemicals & pharma $42M
Processed food, beverages & tobacco $36.4M
Animal & marine products $25.4M
Wood & paper products $19.3M
Textiles & consumer goods $18.3M
Transport & tourism services $6.5M

Balance of trade

Morocco Romania
Current account balance
-$1.87B
2024
-$31.2B
2024
Current account balance ranking
141/190
2024
185/190
2024
Current account balance, % of GDP
-1.16%
2024
-8.16%
2024
Goods imports
$66.5B
2024
$129B
2024
Goods exports
$39.3B
2024
$93.3B
2024
Service imports
$14.3B
2024
$30.2B
2024
Service exports
$28.2B
2024
$42.9B
2024
Imports of goods and services, % of GDP
50.2%
2024
41.6%
2024
Exports of goods and services, % of GDP
42%
2024
35.6%
2024

Economic freedom indices

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

Morocco Romania
Economic freedom 61.8 65.4
Economic freedom ranking 91/197 64/197
Property rights 55.2 81
Government integrity 35.6 50
Judicial effectiveness 32.5 67
Tax burden 65.5 89.1
Government spending 67.5 56.7
Fiscal health 57.5 21.4
Business freedom 72.1 74.4
Labor freedom 46.2 63.6
Monetary freedom 79.6 72.7
Trade freedom 69.8 79.4
Investment freedom 80 70
Financial freedom 80 60

Economic freedom comparison by year

Morocco
Romania
1x
Year Economic freedom index
Morocco Romania
2026 61.8 65.4
2025 60.3 66.5
2024 56.8 64.4
2023 58.4 64.5
2022 59.2 67.1
2021 63.3 69.5
2020 63.3 69.7
2019 62.9 68.6
2018 61.9 69.4
2017 61.5 69.7
2016 61.3 65.6
2015 60.1 66.6
2014 58.3 65.5
2013 59.6 65.1
2012 60.2 64.4
2011 59.6 64.7
2010 59.2 64.2
2009 57.7 63.2
2008 55.6 61.7
2007 56.4 61.2
2006 51.5 58.2
2005 52.2 52.1
2004 56.7 50
2003 57.8 50.6
2002 59 48.7
2001 63.9 50
2000 63.2 52.1
1999 63.8 50.1
1998 61.1 54.4
1997 64.7 50.8
1996 64.3 46.2
1995 62.8 42.9

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

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

The Economic Freedom Index for Morocco is 61.8, ranking 91/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Morocco Romania
Services, % of GDP
52.7%
2024
62.6%
2024
Industry, % of GDP
25.6%
2024
25.3%
2024
Agriculture, forestry, and fishing, % of GDP
10.6%
2024
2.81%
2024
GNI, Atlas method
$149B
2024
$335B
2024
GNI per capita, PPP
$10,260
2024
$47,920
2024
Total reserves including gold
$37.1B
2024
$73.4B
2024
Total reserves ranking
52/177
2024
35/177
2024
Net foreign direct investment
-$948M
2024
-$5.17B
2024
Net inflows of foreign direct investment
$1.64B
2024
$7.16B
2024
Net outflows of foreign direct investment
$691M
2024
$1.99B
2024
Servicing debt to the IMF, % of GNI
5.63%
2024
n/a
Poverty at national poverty lines
3.9%
2022
19%
2023
Gross capital formation, % of GDP
30.1%
2024
25%
2024

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/romania | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.