Current Account in Morocco
Morocco - Current Account
Annual 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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -2.1 | -4.0 | -3.4 | -5.3 | -4.1 |
Morocco Current Account Chart
Source: Ministry of the Economy and Finance.
Morocco Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.02 | 0.0 % | Dec 31 |
| Exchange Rate | 9.56 | -0.29 % | Dec 31 |
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