GDP (annual) in Morocco

Gross Domestic Product (GDP) measures the value of all final goods and services produced in Morocco over a year. It is published by the High Commission for Planning (HCP) and is the broadest gauge of the size and pace of growth of the Moroccan economy.

The HCP compiles GDP from the expenditure, output (sector value added plus net taxes on products) and income sides, which should reconcile. The annual figure is given in dirhams at current and constant prices, with the real year-on-year change measuring growth.

It is the key reference for Morocco's cycle, highly sensitive to the farming season and rainfall. Strong growth points to more jobs and revenue and supports the dirham, whereas a weak reading raises pressure on Bank Al-Maghrib and the public finances.

It is released with a lag and early estimates are revised later. Heavy reliance on farming makes the year-on-year figure volatile, and a sizeable informal economy is not fully captured.