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Economy of Morocco vs Russia compared: GDP & Debt

Updated on by Georank team

Morocco has a GDP of $161B compared to $2.17T for Russia, ranking 58/197 and 11/197 by economy size, respectively.

Morocco has $109B in government debt (67.7% of GDP), compared to $440B (20.3% of GDP) in Russia.

Morocco vs Russia GDP by year

Morocco
Russia
1x
Year GDP, current $
Morocco Russia
2024 $160,610,994,055 $2,173,835,806,672
2023 $146,036,093,667 $2,071,505,725,031
2022 $131,245,312,804 $2,291,612,121,335
2021 $142,022,058,447 $1,829,186,719,575
2020 $121,353,645,057 $1,493,075,894,362
2019 $128,920,266,409 $1,693,115,002,708
2018 $127,341,147,582 $1,657,328,773,461
2017 $118,540,573,368 $1,574,199,360,089
2016 $111,572,947,005 $1,276,786,350,881
2015 $110,413,823,842 $1,363,482,182,198
2014 $119,130,841,412 $2,059,241,589,895
2013 $115,739,287,305 $2,292,470,078,346
2012 $106,937,392,311 $2,208,293,553,878
2011 $110,080,631,332 $2,045,922,753,398
2010 $100,865,329,473 $1,524,916,715,224
2009 $101,154,952,241 $1,222,645,900,056
2008 $101,822,906,949 $1,660,848,058,303
2007 $86,947,913,287 $1,299,703,478,482
2006 $75,883,823,301 $989,932,071,353
2005 $68,852,658,069 $764,015,973,481
2004 $66,114,145,451 $591,016,690,732
2003 $58,029,363,354 $430,347,420,185
2002 $47,077,192,188 $345,470,494,418
2001 $43,831,480,208 $306,602,070,621
2000 $43,017,455,402 $259,710,142,197
1999 $46,266,428,648 $195,907,128,351
1998 $46,497,608,725 $270,955,486,862
1997 $39,147,844,526 $404,928,954,192
1996 $43,161,571,528 $391,724,890,744
1995 $39,030,285,468 $395,537,185,735
1994 $35,604,137,423 $395,077,301,248
1993 $31,655,473,664 $435,083,713,851
1992 $33,711,069,431 $460,290,556,901
1991 $32,285,573,574 $517,962,962,963
1990 $30,179,954,775 $517,014,446,228
1989 $26,314,313,191 $506,631,299,735
1988 $25,705,296,184 $554,828,660,436
1987 $21,765,195,948 -
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/russia | CC BY

GDP per capita in Morocco vs Russia by year

Morocco
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Morocco Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,218 $10,415 $15,145 $47,405
2023 $3,872 $9,895 $14,403 $44,269
2022 $3,516 $9,310 $15,888 $40,939
2021 $3,843 $8,623 $12,637 $38,638
2020 $3,317 $7,705 $10,280 $31,491
2019 $3,560 $8,046 $11,640 $30,964
2018 $3,553 $7,801 $11,399 $28,629
2017 $3,344 $8,115 $10,835 $25,778
2016 $3,186 $7,853 $8,804 $24,012
2015 $3,190 $7,799 $9,427 $23,994
2014 $3,483 $7,237 $14,277 $25,688
2013 $3,425 $7,542 $15,941 $26,020
2012 $3,206 $7,308 $15,402 $24,274
2011 $3,345 $7,274 $14,305 $22,790
2010 $3,107 $6,849 $10,675 $20,490
2009 $3,158 $6,629 $8,563 $19,390
2008 $3,222 $6,437 $11,635 $20,164
2007 $2,788 $6,058 $9,101 $16,648
2006 $2,466 $5,781 $6,920 $14,912
2005 $2,268 $5,275 $5,323 $11,822
2004 $2,207 $5,025 $4,102 $10,227
2003 $1,962 $4,741 $2,975 $9,255
2002 $1,612 $4,436 $2,378 $8,037
2001 $1,521 $4,269 $2,100 $7,361
2000 $1,513 $3,930 $1,772 $6,825
1999 $1,651 $3,801 $1,331 $5,914
1998 $1,683 $3,740 $1,835 $5,465
1997 $1,439 $3,502 $2,738 $5,700
1996 $1,610 $3,551 $2,644 $5,518
1995 $1,478 $3,152 $2,666 $5,613
1994 $1,369 $3,315 $2,662 $5,734
1993 $1,236 $2,979 $2,931 $6,420
1992 $1,337 $2,979 $3,099 $6,862
1991 $1,302 $3,025 $3,490 $7,858
1990 $1,238 $2,777 $3,494 $8,028
1989 $1,099 - $3,430 -
1988 $1,094 - $3,778 -
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/russia | CC BY

Morocco's GDP per capita is $4,218, ranking 127/197, compared to $15,145 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Morocco ranks 132nd at $10,415, while Russia ranks 50th at $47,405.

Economic indicators

Morocco Russia
Gross domestic product
$161B
2024
$2.17T
2024
GDP rank
58/197
2024
11/197
2024
GDP growth
3.79%
2023-2024
4.34%
2023-2024
GDP per capita
$4,218
2024
$15,145
2024
GDP per capita rank
127/197
2024
68/197
2024
GDP per capita, PPP
$10,415
2024
$47,405
2024
GDP per capita PPP rank
132/197
2024
50/197
2024
Government debt
$109B
2024
$440B
2024
Debt-to-GDP ratio
67.7%
2024
20.3%
2024
Government debt per person
$2,857
2024
$3,067
2024
Government debt per person rank
104/185
2024
98/185
2024
Average annual personal income after taxes
$5,678
2026
$10,464
2026
Market capitalization of domestic companies
$74.5B
2024
$650B
2023
Number of millionaires n/a
426,000
2025
Number of billionaires
3
2025
140
2025
Income share by richest 10%
31.9%
2013
25.1%
2023
Income share by poorest 10%
2.7%
2013
3.1%
2023
Government expenditure, % of GDP
33%
2024
36.9%
2024
Consumer prices inflation
0.99%
2023-2024
8.4%
2023-2024
Central bank interest rate
2.25%
2025
16%
2025
Unemployment rate
11.8%
2022
2.43%
2024
Population
38871720
141906741

Spending and national debt comparison by year

Morocco
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Morocco Russia
Government spending Government debt Government spending Government debt
2024 33% 67.7% 36.9% 20.3%
2023 32% 68.7% 35.7% 19.5%
2022 33.7% 71.4% 35.2% 18.5%
2021 31% 69.4% 34.9% 16.5%
2020 34.1% 72.2% 39.2% 19.2%
2019 27.6% 60.3% 33.8% 13.7%
2018 27.8% 60.5% 32.6% 13.6%
2017 27.9% 60.3% 34.8% 14.3%
2016 28.6% 60.1% 36.6% 14.8%
2015 28.5% 58.4% 35.3% 15.3%
2014 30.7% 58.6% 34.9% 15.1%
2013 30.4% 57.1% 34.7% 12.3%
2012 32.5% 52.3% 34% 11.2%
2011 31.2% 48.6% 33.3% 10.3%
2010 28.7% 45.3% 35.5% 10.1%
2009 28.1% 42.6% 38.6% 9.92%
2008 28.3% 42% 32% 7.45%
2007 26.4% 47.1% 31.9% 8.03%
2006 26% 50.6% 29% 9.8%
2005 28.6% 54.8% 29.5% 14.9%
2004 24.5% 54.4% 29.6% 20.8%
2003 24.1% 56.9% 32.6% 28.3%
2002 25.8% 59.4% 33.8% 37.6%
2001 23.7% 60.4% 31.5% 44.4%
2000 22.8% 64.9% 30.7% 55.9%
1999 18.4% 63.4% 34.3% 92.4%
1998 18.7% 64.5% 39.7% 135.2%
1997 18.6% 68% - 51.5%
1996 17.6% 65.3% - 51.9%
1995 21.3% 72.2% - 53.7%
1994 21.7% 69.3% - 63.5%
1993 23.1% 74.7% - 92.4%
1992 22.3% 67% - 116%
1991 20.8% 59.1% - -
1990 22.6% 70.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-02-20).

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

In 2024, Morocco's government spending was $53.1B, accounting for 33% of its GDP, while Russia spent $802B, or 36.9% of GDP.

Debt-to-GDP ratio is 67.7% in Morocco and 20.3% in Russia, ranking 60/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Morocco

Russia
1x
Year Deficit/surplus, % of GDP
Morocco Russia
2024 -3.92% -1.6%
2023 -4.41% -2.22%
2022 -5.37% -1.34%
2021 -5.92% 0.78%
2020 -7.15% -3.99%
2019 -3.8% 1.93%
2018 -3.52% 2.92%
2017 -3.3% -1.47%
2016 -4.49% -3.67%
2015 -4.59% -3.39%
2014 -4.78% -1.07%
2013 -4.7% -1.16%
2012 -6.63% 0.38%
2011 -6.08% 1.43%
2010 -3.93% -3.19%
2009 -1.63% -5.89%
2008 0.63% 4.55%
2007 -0.12% 5.59%
2006 -1.8% 7.8%
2005 -5.46% 7.6%
2004 -3.31% 4.57%
2003 -3.74% 1.35%
2002 -4.37% 0.67%
2001 -3.79% 2.99%
2000 -1.97% 3.11%
1999 3.21% -3.59%
1998 1.47% -7.42%
1997 1.5% -
1996 0.87% -
1995 -2.54% -
1994 -2.51% -
1993 -2% -
1992 -1.84% -
1991 -0.9% -
1990 -1.32% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-02-20).

GeoRank.org/economy/morocco/russia | 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 Russia's deficit of $34.9B, or 1.6% of GDP.

Over the past 27 years, Morocco recorded a fiscal deficit in 24 of those years, while Russia ran a deficit in 13 years. On average, Morocco posted an annual deficit equal to 3.46% of GDP, compared to surplus of 0.21% of GDP for Russia.

Inflation comparison by year

Inflation
Morocco

Russia
1x
Year Consumer prices inflation
Morocco Russia
2024 0.99% 8.4%
2023 6.09% 5.9%
2022 6.66% 13.7%
2021 1.4% 6.7%
2020 0.71% 3.4%
2019 0.3% 4.5%
2018 1.8% 2.9%
2017 0.75% 3.7%
2016 1.64% 7%
2015 1.56% 15.5%
2014 0.44% 7.8%
2013 1.88% 6.8%
2012 1.29% 5.1%
2011 0.91% 8.4%
2010 0.99% 6.8%
2009 0.97% 11.6%
2008 3.71% 14.1%
2007 2.04% 9%
2006 3.28% 9.7%
2005 0.98% 12.7%
2004 1.49% 10.9%
2003 1.17% 13.7%
2002 2.8% 15.8%
2001 0.62% 21.5%
2000 1.89% 20.8%
1999 0.68% 85.7%
1998 2.75% 27.7%
1997 1.04% 14.8%

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/russia | CC BY

Over the past 28 years, Morocco has recorded an average annual inflation rate of 1.82%, compared with 13.4% in Russia. In 2024, inflation was 0.99% in Morocco and 8.4% in Russia.

Top exports between countries

Morocco
Export category Export value
Raw agricultural goods $61.3M
Metals $16.8M
Animal & marine products $16.1M
Processed food, beverages & tobacco $2.54M
Machinery & equipment $1.48M
Raw materials & minerals $1.47M
Textiles & consumer goods $1.3M
Chemicals & pharma $340K
Wood & paper products $6K
Precious metals & jewellery $4K
Russia
Export category Export value
Raw materials & minerals $1.03B
Metals $66.7M
Chemicals & pharma $47.6M
Raw agricultural goods $30.3M
Wood & paper products $14.3M
Machinery & equipment $9.52M
Animal & marine products $9.44M
Transport & tourism services $2.51M
Processed food, beverages & tobacco $1.81M
Business & finance services $1.17M

Balance of trade

Morocco Russia
Current account balance
-$1.87B
2024
$63.4B
2024
Current account balance ranking
141/190
2024
12/190
2024
Current account balance, % of GDP
-1.16%
2024
+2.91%
2024
Goods imports
$66.5B
2024
$302B
2024
Goods exports
$39.3B
2024
$434B
2024
Service imports
$14.3B
2024
$81.5B
2024
Service exports
$28.2B
2024
$43.1B
2024
Imports of goods and services, % of GDP
50.2%
2024
17.6%
2024
Exports of goods and services, % of GDP
42%
2024
21.9%
2024

Economic freedom indices

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

Morocco Russia
Economic freedom 61.8 50.3
Economic freedom ranking 91/197 161/197
Property rights 55.2 18.6
Government integrity 35.6 22.8
Judicial effectiveness 32.5 22.8
Tax burden 65.5 81.9
Government spending 67.5 61.3
Fiscal health 57.5 94.4
Business freedom 72.1 51.4
Labor freedom 46.2 59.1
Monetary freedom 79.6 61.8
Trade freedom 69.8 69.4
Investment freedom 80 30
Financial freedom 80 30

Economic freedom comparison by year

Morocco
Russia
1x
Year Economic freedom index
Morocco Russia
2026 61.8 50.3
2025 60.3 51.6
2024 56.8 52
2023 58.4 53.8
2022 59.2 56.1
2021 63.3 61.5
2020 63.3 61
2019 62.9 58.9
2018 61.9 58.2
2017 61.5 57.1
2016 61.3 50.6
2015 60.1 52.1
2014 58.3 51.9
2013 59.6 51.1
2012 60.2 50.5
2011 59.6 50.5
2010 59.2 50.3
2009 57.7 50.8
2008 55.6 49.8
2007 56.4 52.2
2006 51.5 52.4
2005 52.2 51.3
2004 56.7 52.8
2003 57.8 50.8
2002 59 48.7
2001 63.9 49.8
2000 63.2 51.8
1999 63.8 54.5
1998 61.1 52.8
1997 64.7 48.6
1996 64.3 51.6
1995 62.8 51.1

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

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

The Economic Freedom Index for Morocco is 61.8, ranking 91/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Morocco Russia
Services, % of GDP
52.7%
2024
57.5%
2024
Industry, % of GDP
25.6%
2024
30.7%
2024
Agriculture, forestry, and fishing, % of GDP
10.6%
2024
2.74%
2024
GNI, Atlas method
$149B
2024
$2.24T
2024
GNI per capita, PPP
$10,260
2024
$46,780
2024
Total reserves including gold
$37.1B
2024
$597B
2023
Total reserves ranking
52/177
2024
6/177
2023
Net foreign direct investment
-$948M
2024
$9.37B
2024
Net inflows of foreign direct investment
$1.64B
2024
-$9.35B
2024
Net outflows of foreign direct investment
$691M
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
5.63%
2024
2.65%
2024
Poverty at national poverty lines
3.9%
2022
12.1%
2020
Gross capital formation, % of GDP
30.1%
2024
26.3%
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/russia | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2023, 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.