Current Account in Morocco
Morocco - Current AccountAnnual GDP growth weakened in Q1 2022. Drought conditions drove a 12.1% contraction in the agricultural sector. Rising inflation due to higher commodity prices arising from the war in Ukraine, a reduction in agricultural employment, lower agricultural income and slower growth in remittances combined to undermine private consumption, while rising commodity prices led to a widening of the trade deficit. More positively, the lifting of a flight ban in February boosted tourism, while a receding Covid-19 wave buoyed the services sector. Activity is set to improve during Q2, as Covid-19 restrictions are relaxed and recent rains bring some relief to farmers. However, with much of the harvest already lost, this sector will remain a drag on growth. Elevated commodity prices will continue to put pressure on the purchasing power of consumers, as well as the external and fiscal balances.
Morocco - Current Account Data
|Current Account (% of GDP)||-2.1||-4.0||-3.4||-5.3||-4.1|
5 years of economic forecasts for more than 30 economic indicators.
Morocco Current Account Chart
Source: Ministry of the Economy and Finance.
|Bond Yield||3.02||0.0 %||Dec 31|
|Exchange Rate||9.56||-0.29 %||Dec 31|
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