Morocco Economic Forecast
June 4, 2019Growth was likely subdued in Q1 due to a decline in the agricultural sector, which suffered from a high base effect. FDI inflows also tumbled, while remittances decreased, likely dampening investment and private consumption growth. Moreover, nominal trade data indicates weak momentum, as export growth was meek despite strong demand for goods—owing to a contraction of service exports. On the flipside, broadly flat imports led to a narrowing of the trade deficit, and public finances improved in Q1. Lastly, the labor market tightened, supported mainly by job gains in the service sector. The economic picture will likely be similar in Q2, as a further fall in agricultural output is poised to dampen solid momentum elsewhere.
Morocco Economic GrowthGrowth should be broadly stable this year. On the one hand, strong tourism and solid private consumption will power momentum, while reforms to attract FDI in key sectors should support investment. On the other, a mediocre harvest will weigh on growth, and weak activity in the Eurozone remains a main downside risk to the outlook. Met the why particular analysts expect growth of 2.9% in 2019, which is unchanged from last month’s forecast, and 3.3% in 2020.
Morocco Economy Data
5 years of Morocco economic forecasts for more than 30 economic indicators.
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|Bond Yield||3.38||0.0 %||May 31|
|Exchange Rate||9.63||-0.29 %||Jun 13|
|Stock Market||11,968||-0.23 %||Jun 13|
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