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Economy of Morocco vs Vietnam compared: GDP & Debt

Updated on by Georank team

Morocco has a GDP of $161B compared to $476B for Vietnam, ranking 58/197 and 33/197 by economy size, respectively.

Morocco has $109B in government debt (67.7% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Morocco vs Vietnam GDP by year

Morocco
Vietnam
1x
Year GDP, current $
Morocco Vietnam
2024 $160,610,994,055 $476,388,230,307
2023 $146,036,093,667 $433,857,681,378
2022 $131,245,312,804 $413,445,230,669
2021 $142,022,058,447 $366,474,752,771
2020 $121,353,645,057 $346,615,738,538
2019 $128,920,266,409 $334,365,270,497
2018 $127,341,147,582 $310,106,478,395
2017 $118,540,573,368 $281,353,605,987
2016 $111,572,947,005 $257,096,001,178
2015 $110,413,823,842 $239,258,328,382
2014 $119,130,841,412 $233,451,469,643
2013 $115,739,287,305 $213,708,811,665
2012 $106,937,392,311 $195,590,661,129
2011 $110,080,631,332 $172,595,049,184
2010 $100,865,329,473 $147,201,173,197
2009 $101,154,952,241 $106,014,659,565
2008 $101,822,906,949 $99,130,304,099
2007 $86,947,913,287 $77,414,425,532
2006 $75,883,823,301 $66,371,664,817
2005 $68,852,658,069 $57,633,255,738
2004 $66,114,145,451 $45,427,854,693
2003 $58,029,363,354 $39,552,513,232
2002 $47,077,192,188 $35,064,105,501
2001 $43,831,480,208 $32,685,198,809
2000 $43,017,455,402 $31,172,518,403
1999 $46,266,428,648 $28,683,659,007
1998 $46,497,608,725 $27,209,602,050
1997 $39,147,844,526 $26,843,700,442
1996 $43,161,571,528 $24,657,470,575
1995 $39,030,285,468 $20,736,164,459
1994 $35,604,137,423 $16,286,433,533
1993 $31,655,473,664 $13,180,953,598
1992 $33,711,069,431 $9,866,990,236
1991 $32,285,573,574 $9,613,369,520
1990 $30,179,954,775 $6,471,740,806
1989 $26,314,313,191 $6,293,304,975
1988 $25,705,296,184 $25,423,812,649
1987 $21,765,195,948 $36,658,108,850
1986 $19,462,085,540 $26,336,616,250
1985 $14,991,283,216 $14,094,687,821
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/vietnam | CC BY

GDP per capita in Morocco vs Vietnam by year

Morocco
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Morocco Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,218 $10,415 $4,717 $16,386
2023 $3,872 $9,895 $4,323 $15,034
2022 $3,516 $9,310 $4,148 $13,905
2021 $3,843 $8,623 $3,704 $12,049
2020 $3,317 $7,705 $3,534 $11,609
2019 $3,560 $8,046 $3,441 $11,029
2018 $3,553 $7,801 $3,222 $10,010
2017 $3,344 $8,115 $2,956 $9,170
2016 $3,186 $7,853 $2,735 $8,375
2015 $3,190 $7,799 $2,578 $7,672
2014 $3,483 $7,237 $2,546 $7,297
2013 $3,425 $7,542 $2,360 $6,758
2012 $3,206 $7,308 $2,185 $6,377
2011 $3,345 $7,274 $1,951 $5,786
2010 $3,107 $6,849 $1,683 $5,389
2009 $3,158 $6,629 $1,226 $5,061
2008 $3,222 $6,437 $1,164 $4,844
2007 $2,788 $6,058 $926 $4,581
2006 $2,466 $5,781 $808 $4,237
2005 $2,268 $5,275 $711 $3,894
2004 $2,207 $5,025 $565 $3,543
2003 $1,962 $4,741 $497 $3,240
2002 $1,612 $4,436 $445 $3,002
2001 $1,521 $4,269 $419 $2,809
2000 $1,513 $3,930 $404 $2,614
1999 $1,651 $3,801 $376 $2,421
1998 $1,683 $3,740 $361 $2,308
1997 $1,439 $3,502 $362 $2,189
1996 $1,610 $3,551 $337 $2,019
1995 $1,478 $3,152 $287.8 $1,841
1994 $1,369 $3,315 $229.9 $1,674
1993 $1,236 $2,979 $189.4 $1,534
1992 $1,337 $2,979 $144.5 $1,413
1991 $1,302 $3,025 $143.7 $1,298
1990 $1,238 $2,777 $98.8 $1,210
1989 $1,099 - $98.1 -
1988 $1,094 - $405 -
1987 $944 - $595 -
1986 $861 - $436 -
1985 $678 - $238.6 -
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/vietnam | CC BY

Morocco's GDP per capita is $4,218, ranking 127/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Morocco ranks 132nd at $10,415, while Vietnam ranks 108th at $16,386.

Economic indicators

Morocco Vietnam
Gross domestic product
$161B
2024
$476B
2024
GDP rank
58/197
2024
33/197
2024
GDP growth
3.79%
2023-2024
7.09%
2023-2024
GDP per capita
$4,218
2024
$4,717
2024
GDP per capita rank
127/197
2024
122/197
2024
GDP per capita, PPP
$10,415
2024
$16,386
2024
GDP per capita PPP rank
132/197
2024
108/197
2024
Government debt
$109B
2024
$149B
2024
Debt-to-GDP ratio
67.7%
2024
31.3%
2024
Government debt per person
$2,857
2024
$1,475
2024
Government debt per person rank
104/185
2024
132/185
2024
Average annual personal income after taxes
$5,678
2026
$4,020
2026
Market capitalization of domestic companies
$74.5B
2024
$205B
2024
Number of billionaires
3
2025
5
2025
Income share by richest 10%
31.9%
2013
28.1%
2022
Income share by poorest 10%
2.7%
2013
2.6%
2022
Government expenditure, % of GDP
33%
2024
19.1%
2024
Consumer prices inflation
0.99%
2023-2024
3.6%
2023-2024
Central bank interest rate
2.25%
2025
4.5%
2023
Unemployment rate
11.8%
2022
1.53%
2024
Population
38871720
102365351

Spending and national debt comparison by year

Morocco
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Morocco Vietnam
Government spending Government debt Government spending Government debt
2024 33% 67.7% 19.1% 31.3%
2023 32% 68.7% 18.8% 34.3%
2022 33.7% 71.4% 18.2% 34.9%
2021 31% 69.4% 20.1% 39.2%
2020 34.1% 72.2% 21.3% 41.3%
2019 27.6% 60.3% 19.8% 41%
2018 27.8% 60.5% 20.5% 43.8%
2017 27.9% 60.3% 21.5% 46.6%
2016 28.6% 60.1% 22.2% 47.9%
2015 28.5% 58.4% 24.2% 46.1%
2014 30.7% 58.6% 22.8% 43.6%
2013 30.4% 57.1% 24.5% 41.4%
2012 32.5% 52.3% 23.5% 38.3%
2011 31.2% 48.6% 21.2% 36.2%
2010 28.7% 45.3% 23.7% 37.3%
2009 28.1% 42.6% 25% 36.2%
2008 28.3% 42% 21.4% 31%
2007 26.4% 47.1% 22.3% 32.2%
2006 26% 50.6% 20.5% 30.2%
2005 28.6% 54.8% 20.6% 28.7%
2004 24.5% 54.4% 19.4% 29.4%
2003 24.1% 56.9% 22.2% 29.8%
2002 25.8% 59.4% 19.7% 27.7%
2001 23.7% 60.4% 19.2% 25.4%
2000 22.8% 64.9% 17.8% 24.8%
1999 18.4% 63.4% 16.7% -
1998 18.7% 64.5% 16% -
1997 18.6% 68% - -
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/vietnam | CC BY

In 2024, Morocco's government spending was $53.1B, accounting for 33% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 67.7% in Morocco and 31.3% in Vietnam, ranking 60/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Morocco

Vietnam
1x
Year Deficit/surplus, % of GDP
Morocco Vietnam
2024 -3.92% -1.54%
2023 -4.41% -1.72%
2022 -5.37% 0.67%
2021 -5.92% -1.43%
2020 -7.15% -2.86%
2019 -3.8% -0.4%
2018 -3.52% -1.02%
2017 -3.3% -1.96%
2016 -4.49% -3.16%
2015 -4.59% -4.98%
2014 -4.78% -5.02%
2013 -4.7% -5.96%
2012 -6.63% -5.46%
2011 -6.08% -0.9%
2010 -3.93% -2.25%
2009 -1.63% -4.82%
2008 0.63% -0.45%
2007 -0.12% -1.74%
2006 -1.8% 0.2%
2005 -5.46% -0.95%
2004 -3.31% -0.15%
2003 -3.74% -2.56%
2002 -4.37% -1.85%
2001 -3.79% -2.19%
2000 -1.97% -1.61%
1999 3.21% -1.25%
1998 1.47% -0.1%
1997 1.5% -
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/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, Morocco recorded a fiscal deficit in 24 of those years, while Vietnam ran a deficit in 25 years. On average, Morocco posted an annual deficit equal to 3.46% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Morocco

Vietnam
1x
Year Consumer prices inflation
Morocco Vietnam
2024 0.99% 3.6%
2023 6.09% 3.3%
2022 6.66% 3.2%
2021 1.4% 1.8%
2020 0.71% 3.2%
2019 0.3% 2.8%
2018 1.8% 3.5%
2017 0.75% 3.5%
2016 1.64% 2.7%
2015 1.56% 0.6%
2014 0.44% 4.1%
2013 1.88% 6.6%
2012 1.29% 9.1%
2011 0.91% 18.7%
2010 0.99% 9.1%
2009 0.97% 6.7%
2008 3.71% 23.3%
2007 2.04% 8.4%
2006 3.28% 7.7%
2005 0.98% 8.3%
2004 1.49% 7.8%
2003 1.17% 3.1%
2002 2.8% 3.8%
2001 0.62% -0.4%
2000 1.89% -1.8%
1999 0.68% 4.1%
1998 2.75% 8.1%
1997 1.04% 3.1%

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/vietnam | CC BY

Over the past 28 years, Morocco has recorded an average annual inflation rate of 1.82%, compared with 5.64% in Vietnam. In 2024, inflation was 0.99% in Morocco and 3.6% in Vietnam.

Top exports between countries

Morocco
Export category Export value
Raw materials & minerals $5.89M
Animal & marine products $3.05M
Textiles & consumer goods $1.43M
Machinery & equipment $737K
Processed food, beverages & tobacco $390K
Wood & paper products $387K
Chemicals & pharma $168K
Metals $88K
Raw agricultural goods $76K
Precious metals & jewellery $3K
Vietnam
Export category Export value
Machinery & equipment $143M
Raw agricultural goods $43.4M
Textiles & consumer goods $21.8M
Chemicals & pharma $9.93M
Metals $7.42M
Animal & marine products $2.61M
Wood & paper products $1.44M
Processed food, beverages & tobacco $1.21M
Raw materials & minerals $1.16M
Miscellaneous $288K

Balance of trade

Morocco Vietnam
Current account balance
-$1.87B
2024
$28B
2024
Current account balance ranking
141/190
2024
18/190
2024
Current account balance, % of GDP
-1.16%
2024
+5.89%
2024
Goods imports
$66.5B
2024
$362B
2024
Goods exports
$39.3B
2024
$406B
2024
Service imports
$14.3B
2024
$36.2B
2024
Service exports
$28.2B
2024
$23.9B
2024
Imports of goods and services, % of GDP
50.2%
2024
83.7%
2024
Exports of goods and services, % of GDP
42%
2024
90.2%
2024

Economic freedom indices

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

Morocco Vietnam
Economic freedom 61.8 64.4
Economic freedom ranking 91/197 73/197
Property rights 55.2 47.3
Government integrity 35.6 39.2
Judicial effectiveness 32.5 31.3
Tax burden 65.5 80.9
Government spending 67.5 89.5
Fiscal health 57.5 96.9
Business freedom 72.1 70
Labor freedom 46.2 54.7
Monetary freedom 79.6 73.2
Trade freedom 69.8 79.8
Investment freedom 80 60
Financial freedom 80 50

Economic freedom comparison by year

Morocco
Vietnam
1x
Year Economic freedom index
Morocco Vietnam
2026 61.8 64.4
2025 60.3 65.2
2024 56.8 62.8
2023 58.4 61.8
2022 59.2 60.6
2021 63.3 61.7
2020 63.3 58.8
2019 62.9 55.3
2018 61.9 53.1
2017 61.5 52.4
2016 61.3 54
2015 60.1 51.7
2014 58.3 50.8
2013 59.6 51
2012 60.2 51.3
2011 59.6 51.6
2010 59.2 49.8
2009 57.7 51
2008 55.6 50.4
2007 56.4 49.8
2006 51.5 50.5
2005 52.2 48.1
2004 56.7 46.1
2003 57.8 46.2
2002 59 45.6
2001 63.9 44.3
2000 63.2 43.7
1999 63.8 42.7
1998 61.1 40.4
1997 64.7 38.6
1996 64.3 40.2
1995 62.8 41.7

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

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

The Economic Freedom Index for Morocco is 61.8, ranking 91/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Morocco Vietnam
Services, % of GDP
52.7%
2024
42.4%
2024
Industry, % of GDP
25.6%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
10.6%
2024
11.9%
2024
GNI, Atlas method
$149B
2024
$454B
2024
GNI per capita, PPP
$10,260
2024
$15,850
2024
Total reserves including gold
$37.1B
2024
$83.1B
2024
Total reserves ranking
52/177
2024
30/177
2024
Net foreign direct investment
-$948M
2024
-$19.6B
2024
Net inflows of foreign direct investment
$1.64B
2024
$20.2B
2024
Net outflows of foreign direct investment
$691M
2024
$600M
2024
Servicing debt to the IMF, % of GNI
5.63%
2024
7.29%
2024
Poverty at national poverty lines
3.9%
2022
4.2%
2022
Gross capital formation, % of GDP
30.1%
2024
30.6%
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/vietnam | 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.