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Economy of Morocco vs Uganda compared: GDP & Debt

Updated on by Georank team

Morocco has a GDP of $161B compared to $53.9B for Uganda, ranking 58/197 and 89/197 by economy size, respectively.

Morocco has $109B in government debt (67.7% of GDP), compared to $27.8B (51.5% of GDP) in Uganda.

Morocco vs Uganda GDP by year

Morocco
Uganda
1x
Year GDP, current $
Morocco Uganda
2024 $160,610,994,055 $53,911,907,086
2023 $146,036,093,667 $48,768,955,863
2022 $131,245,312,804 $45,565,333,211
2021 $142,022,058,447 $40,529,788,749
2020 $121,353,645,057 $37,600,368,242
2019 $128,920,266,409 $35,353,061,003
2018 $127,341,147,582 $32,927,025,620
2017 $118,540,573,368 $30,744,473,841
2016 $111,572,947,005 $29,203,988,696
2015 $110,413,823,842 $32,387,183,730
2014 $119,130,841,412 $32,612,397,257
2013 $115,739,287,305 $28,915,786,517
2012 $106,937,392,311 $27,305,915,911
2011 $110,080,631,332 $27,871,725,241
2010 $100,865,329,473 $26,673,441,431
2009 $101,154,952,241 $25,127,805,567
2008 $101,822,906,949 $14,440,404,132
2007 $86,947,913,287 $11,902,564,495
2006 $75,883,823,301 $9,977,647,683
2005 $68,852,658,069 $9,239,221,763
2004 $66,114,145,451 $7,939,487,548
2003 $58,029,363,354 $6,606,884,275
2002 $47,077,192,188 $6,178,563,591
2001 $43,831,480,208 $5,840,503,869
2000 $43,017,455,402 $6,193,246,837
1999 $46,266,428,648 $5,998,563,258
1998 $46,497,608,725 $6,584,815,847
1997 $39,147,844,526 $6,269,333,313
1996 $43,161,571,528 $6,044,585,327
1995 $39,030,285,468 $5,755,818,842
1994 $35,604,137,423 $3,990,430,447
1993 $31,655,473,664 $3,220,439,044
1992 $33,711,069,431 $2,857,457,762
1991 $32,285,573,574 $3,321,729,160
1990 $30,179,954,775 $4,304,399,310
1989 $26,314,313,191 $5,276,480,799
1988 $25,705,296,184 $6,508,931,652
1987 $21,765,195,948 $6,269,522,042
1986 $19,462,085,540 $3,923,244,050
1985 $14,991,283,216 $3,519,695,444
1984 $14,824,667,954 $3,615,647,477
1983 $16,251,408,128 $2,240,333,333
1982 $17,692,276,734 $2,177,500,000
1981 $17,788,185,479 $1,337,300,000
1980 $21,728,516,153 $1,244,610,000
1979 $15,911,994,817 $2,139,025,000
1978 $13,236,946,234 $2,420,260,870
1977 $11,049,783,872 $2,936,470,588
1976 $9,584,297,284 $2,447,300,000
1975 $8,984,853,005 $2,359,555,556
1974 $7,675,466,449 $2,098,944,967
1973 $6,242,145,880 $1,701,829,789
1972 $5,074,117,545 $1,490,970,181
1971 $4,356,669,034 $1,417,191,656
1970 $3,956,336,244 $1,259,554,809
1969 $3,651,622,669 $1,168,556,629
1968 $3,271,422,333 $1,037,379,252
1967 $3,046,345,314 $967,240,655
1966 $2,876,401,297 $925,381,492
1965 $2,948,331,090 $884,502,310
1964 $2,798,345,299 $589,247,687
1963 $2,657,252,578 $516,315,231
1962 $2,379,611,125 $449,158,233
1961 $2,025,693,540 $441,667,335
1960 $2,037,154,742 $423,145,605

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

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

GDP per capita in Morocco vs Uganda by year

Morocco
GDP per capita

GDP per capita, PPP
Uganda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Morocco Uganda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,218 $10,415 $1,078 $3,273
2023 $3,872 $9,895 $1,002 $3,098
2022 $3,516 $9,310 $963 $2,919
2021 $3,843 $8,623 $883 $2,685
2020 $3,317 $7,705 $846 $2,532
2019 $3,560 $8,046 $822 $2,441
2018 $3,553 $7,801 $792 $2,312
2017 $3,344 $8,115 $765 $2,158
2016 $3,186 $7,853 $753 $2,165
2015 $3,190 $7,799 $863 $2,190
2014 $3,483 $7,237 $896 $2,134
2013 $3,425 $7,542 $818 $2,045
2012 $3,206 $7,308 $795 $2,032
2011 $3,345 $7,274 $836 $2,268
2010 $3,107 $6,849 $823 $2,092
2009 $3,158 $6,629 $799 $2,015
2008 $3,222 $6,437 $473 $1,931
2007 $2,788 $6,058 $401 $1,795
2006 $2,466 $5,781 $347 $1,660
2005 $2,268 $5,275 $330 $1,497
2004 $2,207 $5,025 $292.4 $1,405
2003 $1,962 $4,741 $250.7 $1,320
2002 $1,612 $4,436 $242 $1,255
2001 $1,521 $4,269 $236 $1,173
2000 $1,513 $3,930 $258.1 $1,124
1999 $1,651 $3,801 $257.9 $1,100
1998 $1,683 $3,740 $292.5 $1,037
1997 $1,439 $3,502 $286.8 $1,007
1996 $1,610 $3,551 $284.7 $969
1995 $1,478 $3,152 $278.5 $897
1994 $1,369 $3,315 $198.4 $809
1993 $1,236 $2,979 $165.6 $770
1992 $1,337 $2,979 $152.1 $719
1991 $1,302 $3,025 $183 $703
1990 $1,238 $2,777 $245 $666
1989 $1,099 - $310 -
1988 $1,094 - $395 -
1987 $944 - $393 -
1986 $861 - $253.6 -
1985 $678 - $234.3 -
1984 $687 - $247.5 -
1983 $772 - $157.5 -
1982 $862 - $157 -
1981 $890 - $98.6 -
1980 $1,117 - $93.8 -
1979 $839 - $164.5 -
1978 $716 - $190.7 -
1977 $613 - $237.6 -
1976 $545 - $203.3 -
1975 $524 - $201.2 -
1974 $459 - $183.7 -
1973 $382 - $152.7 -
1972 $319 - $137 -
1971 $280.6 - $133.5 -
1970 $261.5 - $122 -
1969 $247.8 - $116.7 -
1968 $228 - $106.9 -
1967 $218.1 - $102.8 -
1966 $211.5 - $101.4 -
1965 $222.7 - $100 -
1964 $216.9 - $68.6 -
1963 $211.3 - $62 -
1962 $194.2 - $55.5 -
1961 $169.8 - $56.2 -
1960 $175.2 - $55.4 -

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

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

Morocco's GDP per capita is $4,218, ranking 127/197, compared to $1,078 in Uganda, ranking 176/197. Adjusted for purchasing power (GDP per capita PPP), Morocco ranks 132nd at $10,415, while Uganda ranks 176th at $3,273.

Economic indicators

Morocco Uganda
Gross domestic product
$161B
2024
$53.9B
2024
GDP rank
58/197
2024
89/197
2024
GDP growth
3.79%
2023-2024
6.06%
2023-2024
GDP per capita
$4,218
2024
$1,078
2024
GDP per capita rank
127/197
2024
176/197
2024
GDP per capita, PPP
$10,415
2024
$3,273
2024
GDP per capita PPP rank
132/197
2024
176/197
2024
Government debt
$109B
2024
$27.8B
2024
Debt-to-GDP ratio
67.7%
2024
51.5%
2024
Government debt per person
$2,857
2024
$555
2024
Government debt per person rank
104/185
2024
163/185
2024
Average annual personal income after taxes
$5,678
2026
$1,466
2026
Market capitalization of domestic companies
$74.5B
2024
n/a
Number of billionaires
3
2025
n/a
Income share by richest 10%
31.9%
2013
34.5%
2019
Income share by poorest 10%
2.7%
2013
2.4%
2019
Government expenditure, % of GDP
33%
2024
18.7%
2024
Consumer prices inflation
0.99%
2023-2024
3.3%
2023-2024
Central bank interest rate
2.25%
2025
9.75%
2024
Unemployment rate
11.8%
2022
3.42%
2021
Population
38871720
53170946

Spending and national debt comparison by year

Morocco
Spending

Debt
Uganda
Spending

Debt
1x
Year % of GDP
Morocco Uganda
Government spending Government debt Government spending Government debt
2024 33% 67.7% 18.7% 51.5%
2023 32% 68.7% 19.3% 50.5%
2022 33.7% 71.4% 19.5% 50.2%
2021 31% 69.4% 22% 50.3%
2020 34.1% 72.2% 21.4% 46.3%
2019 27.6% 60.3% 18.3% 37.5%
2018 27.8% 60.5% 16.2% 34.9%
2017 27.9% 60.3% 16.3% 33.6%
2016 28.6% 60.1% 15.2% 31.3%
2015 28.5% 58.4% 14.9% 28%
2014 30.7% 58.6% 13.6% 24.8%
2013 30.4% 57.1% 13.3% 22.1%
2012 32.5% 52.3% 13.1% 19.5%
2011 31.2% 48.6% 13.2% 18%
2010 28.7% 45.3% 15.4% 18.4%
2009 28.1% 42.6% 11.8% 14.8%
2008 28.3% 42% 12.9% 15.7%
2007 26.4% 47.1% 13.2% 17%
2006 26% 50.6% 13.7% 27.8%
2005 28.6% 54.8% 14.5% 42.6%
2004 24.5% 54.4% 15.6% 49%
2003 24.1% 56.9% 16.5% 55.1%
2002 25.8% 59.4% 16.8% 54.7%
2001 23.7% 60.4% 16.2% 51.4%
2000 22.8% 64.9% 15.2% 48.5%
1999 18.4% 63.4% 14.7% 47.7%
1998 18.7% 64.5% 14% 45.1%
1997 18.6% 68% 13.9% 44.2%
1996 17.6% 65.3% - -
1995 21.3% 72.2% - -
1994 21.7% 69.3% - -
1993 23.1% 74.7% - -
1992 22.3% 67% - -
1991 20.8% 59.1% - -
1990 22.6% 70.5% - -

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

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

In 2024, Morocco's government spending was $53.1B, accounting for 33% of its GDP, while Uganda spent $10.1B, or 18.7% of GDP.

Debt-to-GDP ratio is 67.7% in Morocco and 51.5% in Uganda, ranking 60/185 and 103/185, respectively.

Government deficit by year

Deficit/surplus
Morocco

Uganda
1x
Year Deficit/surplus, % of GDP
Morocco Uganda
2024 -3.92% -3.99%
2023 -4.41% -4.87%
2022 -5.37% -5.45%
2021 -5.92% -7.76%
2020 -7.15% -7.76%
2019 -3.8% -4.82%
2018 -3.52% -3.02%
2017 -3.3% -3.83%
2016 -4.49% -2.64%
2015 -4.59% -2.59%
2014 -4.78% -2.74%
2013 -4.7% -3.19%
2012 -6.63% -2.39%
2011 -6.08% -2.04%
2010 -3.93% -4.64%
2009 -1.63% -1.61%
2008 0.63% -1.99%
2007 -0.12% -0.82%
2006 -1.8% -0.64%
2005 -5.46% -0.17%
2004 -3.31% 0.34%
2003 -3.74% -0.97%
2002 -4.37% -2.07%
2001 -3.79% -0.99%
2000 -1.97% -0.62%
1999 3.21% -1.24%
1998 1.47% -0.7%
1997 1.5% -0.83%
1996 0.87% -
1995 -2.54% -
1994 -2.51% -
1993 -2% -
1992 -1.84% -
1991 -0.9% -
1990 -1.32% -

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

GeoRank.org/economy/morocco/uganda | 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 Uganda's deficit of $2.15B, or 3.99% of GDP.

Over the past 28 years, Morocco recorded a fiscal deficit in 24 of those years, while Uganda ran a deficit in 27 years. On average, Morocco posted an annual deficit equal to 3.29% of GDP, compared to deficit of 2.64% of GDP for Uganda.

Inflation comparison by year

Inflation
Morocco

Uganda
1x
Year Consumer prices inflation
Morocco Uganda
2024 0.99% 3.3%
2023 6.09% 5.4%
2022 6.66% 7.2%
2021 1.4% 2.2%
2020 0.71% 2.8%
2019 0.3% 2.1%
2018 1.8% 2.5%
2017 0.75% 5.6%
2016 1.64% 5.2%
2015 1.56% 3.7%
2014 0.44% 4.3%
2013 1.88% 5.5%
2012 1.29% 14%
2011 0.91% 18.7%
2010 0.99% 4%
2009 0.97% 13%
2008 3.71% 12%
2007 2.04% 6.1%
2006 3.28% 7.2%
2005 0.98% 8.6%
2004 1.49% 3.7%
2003 1.17% 8.7%
2002 2.8% -0.3%
2001 0.62% 1.9%
2000 1.89% 3.4%
1999 0.68% 5.8%
1998 2.75% 5.8%
1997 1.04% 7.7%

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/uganda | CC BY

Over the past 28 years, Morocco has recorded an average annual inflation rate of 1.82%, compared with 6.08% in Uganda. In 2024, inflation was 0.99% in Morocco and 3.3% in Uganda.

Top exports between countries

Morocco
Export category Export value
Wood & paper products $5.8M
Processed food, beverages & tobacco $2.25M
Chemicals & pharma $369K
Textiles & consumer goods $217K
Raw materials & minerals $67K
Machinery & equipment $21K
Raw agricultural goods $16K
Metals $4K
Uganda
Export category Export value
Raw agricultural goods $71M
Machinery & equipment $54K
Processed food, beverages & tobacco $31K
Chemicals & pharma $16K
Raw materials & minerals $7K
Textiles & consumer goods $5K
Metals $2K
Wood & paper products $2K

Balance of trade

Morocco Uganda
Current account balance
-$1.87B
2024
-$4.29B
2024
Current account balance ranking
141/190
2024
164/190
2024
Current account balance, % of GDP
-1.16%
2024
-7.96%
2024
Goods imports
$66.5B
2024
$11.7B
2024
Goods exports
$39.3B
2024
$8.67B
2024
Service imports
$14.3B
2024
$4.38B
2024
Service exports
$28.2B
2024
$2.39B
2024
Imports of goods and services, % of GDP
50.2%
2024
25.9%
2024
Exports of goods and services, % of GDP
42%
2024
16.8%
2024

Economic freedom indices

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

Morocco Uganda
Economic freedom 61.8 52.4
Economic freedom ranking 91/197 149/197
Property rights 55.2 42.2
Government integrity 35.6 25.1
Judicial effectiveness 32.5 29.4
Tax burden 65.5 73.4
Government spending 67.5 89
Fiscal health 57.5 58.3
Business freedom 72.1 50.2
Labor freedom 46.2 55.9
Monetary freedom 79.6 77.1
Trade freedom 69.8 58
Investment freedom 80 30
Financial freedom 80 40

Economic freedom comparison by year

Morocco
Uganda
1x
Year Economic freedom index
Morocco Uganda
2026 61.8 52.4
2025 60.3 51.3
2024 56.8 50.7
2023 58.4 51.4
2022 59.2 54.2
2021 63.3 58.6
2020 63.3 59.5
2019 62.9 59.7
2018 61.9 62
2017 61.5 60.9
2016 61.3 59.3
2015 60.1 59.7
2014 58.3 59.9
2013 59.6 61.1
2012 60.2 61.9
2011 59.6 61.7
2010 59.2 62.2
2009 57.7 63.5
2008 55.6 63.8
2007 56.4 63.1
2006 51.5 63.9
2005 52.2 62.9
2004 56.7 64.1
2003 57.8 60.1
2002 59 61
2001 63.9 60.4
2000 63.2 58.2
1999 63.8 64.8
1998 61.1 64.7
1997 64.7 66.6
1996 64.3 66.2
1995 62.8 62.9

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

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

The Economic Freedom Index for Morocco is 61.8, ranking 91/197, compared to 52.4 for Uganda, ranking 149/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Morocco Uganda
Services, % of GDP
52.7%
2024
43.1%
2024
Industry, % of GDP
25.6%
2024
24.9%
2024
Agriculture, forestry, and fishing, % of GDP
10.6%
2024
24.6%
2024
GNI, Atlas method
$149B
2024
$50.9B
2024
GNI per capita, PPP
$10,260
2024
$3,190
2024
Total reserves including gold
$37.1B
2024
$3.36B
2018
Total reserves ranking
52/177
2024
114/177
2018
Net foreign direct investment
-$948M
2024
-$3.26B
2024
Net inflows of foreign direct investment
$1.64B
2024
$3.26B
2024
Net outflows of foreign direct investment
$691M
2024
$400K
2024
Servicing debt to the IMF, % of GNI
5.63%
2024
2.96%
2024
Poverty at national poverty lines
3.9%
2022
20.3%
2019
Gross capital formation, % of GDP
30.1%
2024
22.4%
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/uganda | 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 (2020–2024, 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.