Morocco Economic Forecast
May 7, 2019
The economy appears to have lost momentum in Q1 2019 as a contraction in the agricultural sector, owing to a high base effect from last year’s bumper harvest and drought conditions in winter, dragged on growth. That said, the rest of the economy showed some positive momentum, with robust growth in the services and manufacturing sectors likely powering a rebound in fixed investment. Industrial output was driven by a noticeable acceleration in the mining and quarrying sector thanks to higher domestic demand for phosphate products—due notably to the dynamism of the chemical sector. Turning to Q2, the picture looks similar; an expected further contraction in the agricultural sector is projected to be broadly counterbalanced by solid growth elsewhere.Morocco Economic Growth
Growth 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, weaker growth in the Eurozone—Morocco’s main trade partner and source of tourists—is a main downside risk and will weigh on growth. FocusEconomics analysts expect growth of 2.9% in 2019, which is down 0.2 percentage points from last month’s forecast, and 3.3% in 2020.Morocco Economy Data
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Morocco Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.49 | 0.0 % | Apr 30 |
| Exchange Rate | 9.63 | -0.29 % | May 13 |
| Stock Market | 11,222 | -0.23 % | May 13 |
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