Morocco is the fifth largest economy in Africa. The country’s GDP will grow by an average of 3% between 2019-21. Economic activity will be driven by the strong performance of agriculture sector, dynamic manufacturing and services sectors.

Top 10 largest African economies by GDP

Source: IMF World Economic Outlook

The IMF predicts that the country’s GDP will reach $122.4 billion by 2019.

Morocco GDP

Source: IMF World Economic Outlook

Morocco’s GDP growth reached 2.8% in Q3 2018 from 2.4% in the previous quarter. The Central Bank of Morocco is expected the economy to grow by 3.5% in 2018, and 3.1 % in 2019.

Morocco GDP growth rate

Source: IMF World Economic Outlook

Agriculture represents around 15% of the country’s GDP. Morocco’s economic growth remains slow in 2018 despite unexpected performance of agriculture sector. The country expects an exceptional cereals harvest of 10.3 million tonnes in 2018.

Morocco GDP by sectors

Source: InvestIn Group

Over the medium term, economic performance is expected to improve subject to pursuing fiscal adjustment and deepening reforms. Morocco’s challenges include boosting productivity spillovers from high public investment for higher private sector-driven and inclusive growth, generating jobs for the young.