Morocco GDP 2022 | Top 5 Amazing Facts

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Morocco GDP

Morocco country overview

Before we start to discuss Morocco GDP first we discuss Morocco’s country overview, so Morocco is officially called the Kingdom of Morocco. Morocco is located in North Africa.

Morocco GDP
Morocco GDP

Rabat is the capital and its largest city name is Casablanca. Morocco’s official languages are Arabic and Berber. In ethnic groups, 99% Arab Berbers and 1% other ethnic groups live in Morocco.

In religions, 99% Muslims and 1% other religion-related peoples live in Morocco. Morocco’s government system is a Unitary parliamentary constitutional monarchy.

Morocco’s King’s name is Mohammad VI. Its prime minister anime is Aziz Akhannouch. When we talk about its Legistatior, its Legislator name is Parliament.

Its parliament has two houses called the upper house and the lower house. The Upper house is called the House of Councillors and the lower house is called the House of representatives.

Morocco’s total land area is 710,850 km2. Its land area rank is 39th in the world countries. Its total population is 37,112,500 in the year 2021. Its population rank is 39th in the world. Morocco’s total population density is 50/km2. 

Morocco Economy

Its currency is called the Moroccan dirham. Morocco’s economy is formally called the developing or emerging economy and a lower-middle-income economy.

The inflation rate in Morocco is 1.1% in the year 2020 which is a very low inflation rate in a general perspective. 5% of the total Moroccan population live below the poverty line.

Its HDI rate is 0.686 in the year 2020 which is considered a medium HDI rate in the world economies. Its HDI rank is 121st in the world.

When we talk about its Labour Force by occupation, agriculture 39%, industry 20%, and services are 41% in the year 2015.

The unemployment rate in Morocco is 10% in the year 2019. Its gross external debt is $46 billion in the year 2018. Morocco’s total Foreign reserves are $33 billion in the year 2021. 

Morocco GDP

Morocco’s total GDP is $200 billion (nominal) and $330 billion (PPP) in the year 2020. Its GDP rank is 58th (nominal) and 54th (PPP) in the year 2020.

Morocco’s GDP growth rate is 5.4% in the year 2021. Its GDP per capita is $3,340 (nominal) and $9,330 (PPP) in the year 2021.

Its GDP per capita rank is 148th (nominal) and 113th (PPP) in the year 2021. When we talk about its GDP by sector, agriculture 15%, industry 29%, and services are 55% in the year 2018. 

Morocco Exports

Its total exports are $44 billion in the year 2020. Its main export goods are textile, electric, chemicals, oil, and others. Its main export partners are Spain, Italy, Germany, India, the UK, and others. 

Morocco Imports

Morocco’s total imports are $44 billion in the year 2018. Its main import goods are petroleum, textile, wheat, plastic, and others. Its main import partners are Spain, China, Germany, Turkey, Russia, and others. 

References: Worldbank, IMF, Wikipedia, and others. 

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