MOROCCO : Economic and Financial Data
                   
             
         
            Date of last update:
            September 07th, 2026
             
             
             
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The data shown in this page correspond to the data described on the International Monetary Fund’s Dissemination Standards Bulletin Board (DSBB). Some of prescribed breakdowns (underlined items) are shown on additional webpages rather than on the main page. For a fuller explanation of the DSBB and the statistical standards to which Morocco has committed, please click on DSBB Home Page at
http://dsbb.imf.org/            
             
  [Real Sector] [Fiscal Sector] [Financial Sector] [External Debt] [External Sector] [Population]
             
   
Data Category and Component Unit Latest Period Data for Latest Period Data for Previous Period % Change Other Information   (Hyperlink)
Real Sector
I- National Accounts             Haut Commissariat au Plan
a) GDP at constant prices (2014)   MDH   Q1/26 347.396 347.177 0,1  
Agriculture and forestry   MDH   Q1/26 33.406 27.642 20,9  
Fishing   MDH   Q1/26 1.302 1.042 25,0  
Mining and quarrying   MDH   Q1/26 6.119 5.861 4,4  
Manufacturing   MDH   Q1/26 45.476 50.347 -9,7  
Electricity, gas, and water supply ; sewerage and waste management   MDH   Q1/26 7.595 8.204 -7,4  
Construction   MDH   Q1/26 17.342 17.782 -2,5  
Wholesale and retail trade; repair of motor vehicles and motorcycles   MDH   Q1/26 34.479 33.450 3,1  
Transportation and storage   MDH   Q1/26 9.797 9.763 0,3  
Accommodation and food service activities   MDH   Q1/26 13.921 14.131 -1,5  
Information and communication   MDH   Q1/26 10.118 10.213 -0,9  
Financial and insurance activities   MDH   Q1/26 19.782 19.524 1,3    
Real estate activities   MDH   Q1/26 22.582 22.256 1,5    
Professional, scientific and technical activities ; Administrative and support service activities   MDH   Q1/26 17.032 17.536 -2,9    
Public administration and defence; compulsory social security   MDH   Q1/26 36.757 37.380 -1,7    
Education, human health and social work activities   MDH   Q1/26 28.907 28.788 0,4  
Other service activities   MDH   Q1/26 4.020 4.123 -2,5  
             
b) GDP at current prices   MDH   Q1/26 436.788 447.916 -2,5  
Agriculture and forestry   MDH   Q1/26 52.527 44.389 18,3  
Fishing   MDH   Q1/26 2.588 2.217 16,7  
Mining and quarrying   MDH   Q1/26 7.991 11.101 -28,0  
Manufacturing   MDH   Q1/26 59.758 62.906 -5,0  
Electricity, gas, and water supply ; sewerage and waste management   MDH   Q1/26 9.293 11.111 -16,4  
Construction   MDH   Q1/26 24.359 25.668 -5,1  
Wholesale and retail trade; repair of motor vehicles and motorcycles   MDH   Q1/26 47.043 44.908 4,8  
Transportation and storage   MDH   Q1/26 13.378 14.185 -5,7  
Accommodation and food service activities   MDH   Q1/26 18.413 18.771 -1,9  
Information and communication   MDH   Q1/26 9.104 9.114 -0,1  
Financial and insurance activities   MDH   Q1/26 20.960 20.751 1,0  
Real estate activities   MDH   Q1/26 25.909 25.607 1,2    
Professional, scientific and technical activities ; Administrative and support service activities   MDH   Q1/26 22.423 22.831 -1,8    
Public administration and defence; compulsory social security   MDH   Q1/26 39.035 40.053 -2,5    
Education, human health and social work activities   MDH   Q1/26 31.182 31.391 -0,7    
Other service activities   MDH   Q1/26 4.604 4.699 -2,0    
II- Production index              
  Manufacturing production index 2015=100   Q1/26 118,5 144,6 -18,0  
III- Labour Market             
  Active population employed Thousands   Q2/26 10.643 10.364 2,7    
  Unemployement rate   %   Q2/26 9,5% 10,8%      
   Wages index 2004=100   Q1/26 178,5 176,2 1,3  
IV- Price Indices                
  Consumer prices   2017=100 Jul/26 118,7 119,9 -1,0  
  Producer prices   2018=100 Jul/26 118,4 118,3 0,1  
             
Fiscal Sector
I- General Government or Public Sector Operations           Ministry of Economy and Finance
Revenue MDH 2019 420.584 412.721 7.863,2  
Expense MDH 2019 378.053 358.664 19.388,8  
Net operating balance MDH 2019 42.531 54.057 -11.525,6  
Net investment in nonfinancial assests MDH 2019 74.627 75.989 -1.361,8  
Net lending/net borrowing MDH 2019 -32.096 -21.932 -10.163,7  
Net acquisition of financial assets MDH 2019 27.213 28.073 -860,4  
Net incurrence of liabilities MDH 2019 59.309 50.006 9.303,3  
II- Central Government Operations *             Ministry of Economy and Finance
1- Revenues   MDH Jul/26 253.751 225.592 12,5    
2- Current expenditures   MDH Jul/26 242.621 212.490 14,2    
  Of which : interest on domestic debt   MDH Jul/26 23.599 20.607 14,5    
                      interest on external debt   MDH Jul/26 6.166 5.504 12,0    
3-(Surplus+/Deficit-) balance   MDH Jul/26 -50.521 -54.743 -7,7    
4-Net Domestic Financing   MDH Jul/26 27.074 40.787      
5-Net Foreign Financing   MDH Jul/26          
III- Central Government Debt             Ministry of Economy and Finance
1- Outstanding debt by maturity                
 Domestic debt   MDH   Q1/26      867.178,97         845.212,27               2,60      
  Short-term debt (< 1 year)   MDH   Q1/26          90.360,2             97.806,9   -7,61    
  Medium and long-term debt (> 1 year)   MDH   Q1/26        776.818,7           747.405,4               3,94      
 External debt   MDH   Q1/26 302.574,3 299.762,4 0,9    
  Short-term debt (< 1 year)   MDH   Q1/26 12.851,0 18.196,0 -29,4    
  Medium and long-term debt (> 1 year)   MDH   Q1/26 289.723,3 281.566,4 2,9    
 Total outstanding debt   MDH   Q1/26 1.169.753,3 1.144.974,7             2,16      
2- Outstanding external debt by currency              
 * Dollar US   MDH   Q1/26 82.771,6 81.590,2 1,4    
 * Euro   MDH   Q1/26 191.897,0 193.136,0 -0,6    
 * Japanese Yen   MDH   Q1/26 4.849,5 4.868,2 -0,4    
 * Other currencies   MDH   Q1/26 23.056,2 20.168,0 14,3    
3- Outstanding guaranteed debt   MDH   Q1/26 146.686,6 146.575,1             0,08      
         Domestic   MDH   Q1/26             28.958                29.153   -0,67  
         External   MDH   Q1/26 117.729 117.422 0,3  
             
Financial Sector
A/ Depository Corporations Survey             Bank Al-Maghrib
M1 MDH Jul/26 1.657.954 1.659.736 -0,1    
M2 MDH Jul/26 1.857.475 1.858.620 -0,1    
M3 MDH Jul/26 2.195.010 2.185.064 0,5    
 Net Foreign Assets MDH Jul/26 536.721 538.413 -0,3    
Claims on nonresidents MDH Jul/26 606.030 606.759 -0,1  
Liabilities to nonresidents MDH Jul/26 69.309 68.346 1,4  
Domestic claims MDH Jul/26 1.975.759 1.960.712 0,8    
               -  Net claims on central government MDH Jul/26 374.500 358.750 4,4    
                - Claims on other sectors MDH Jul/26 1.601.259 1.601.962 0,0    
Claims on state and local government MDH Jul/26 54.914 54.314 1,1  
Claims on other financial corporations MDH Jul/26 478.536 485.069 -1,3  
Claims on public nonfinancial corporations MDH Jul/26 109.194 111.272 -1,9  
Claims on private sector MDH Jul/26 958.614 951.307 0,8  
Less : resources of a non monetary nature MDH Jul/26 341.116 344.563 -1,0  
         other items (net) MDH Jul/26 59.708 52.851 13,0  
B/ Central Bank Survey           Bank Al-Maghrib
Claims on nonresidents MDH Jul/26 502.295 501.516 0,2  
Liabilities to nonresidents MDH Jul/26 21.608 22.213 -2,7  
Claims on other depository corporations MDH Jul/26 149.692 156.917 -4,6  
Net claims on central government MDH Jul/26 -4.938 -5.701 -13,4  
Claims on other sectors MDH Jul/26 1.343 1.361 -1,3  
Monetary base MDH Jul/26 595.285 597.740 -0,4  
Other liabilities to other depository corporations MDH Jul/26 0 0 0,0  
Less : resources of a non monetary nature MDH Jul/26 29.375 32.459 -9,5  
Other items (net) MDH Jul/26 2.123 1.681 26,3  
C/ Interest Rates (Daily)             Bank Al-Maghrib
 Main money market rates              
 Government bond yield              
D/ Stock Exchange index (Daily)              
 Stock exchange             Casablanca Stock Exchange
             
External Sector
A- Balance of payments **             Office des Changes
 Current account   MDH   Q1/26 -5.028 -13.390 8.362,0  
  Exports of goods (FOB)   MDH   Q1/26 184.162 189.044 -4.882,0  
  Imports of goods (FOB)   MDH   Q1/26 -220.845 -232.425 11.580,0  
  Goods: credit   MDH   Q1/26 106.926 108.006 -1.080,0  
  Goods: debit   MDH   Q1/26 -182.470 -190.793 8.323,0  
  Services: credit   MDH   Q1/26 77.236 81.038 -3.802,0  
  Services: debit   MDH   Q1/26 -38.375 -41.632 3.257,0  
  Primary Income: credit   MDH   Q1/26 3.170 4.803 -1.633,0  
  Primary Income: debit   MDH   Q1/26 -6.083 -9.594 3.511,0  
  Secondary Income: credit   MDH   Q1/26 36.026 36.680 -654,0  
  Secondary Income: debit   MDH   Q1/26 -1.458 -1.898 440,0  
 Capital account   MDH   Q1/26 0 0 0,0  
  Capital account: credit   MDH   Q1/26 0 0 0,0  
  Capital account: debit   MDH   Q1/26 0 0 0,0  
 Financial account    MDH   Q1/26 2.074 -10.880 12.954,0  
  Direct investment: assets   MDH   Q1/26 2.664 5.326 -2.662,0  
  Direct investment: liabilities   MDH   Q1/26 -14.045 -8.961 -5.084,0  
  Portfolio investment: assets   MDH   Q1/26 -530 -4.772 4.242,0  
  Portfolio investment: liabilities   MDH   Q1/26 3.450 9.099 -5.649,0  
  Financial Derrivatives: assets   MDH   Q1/26 -757 -546 -211,0  
  Financial Derrivatives: liabilities   MDH   Q1/26 430 413 17,0  
  Other investment: assets   MDH   Q1/26 10.710 -11.662 22.372,0  
  Other investment: liabilities   MDH   Q1/26 -7.545 -16.703 9.158,0  
  Reserve assets   MDH   Q1/26 7.697 16.926 -9.229,0  
 Net errors and omissions   MDH   Q1/26 7.102 2.510 4.592,0  
B- International reserves and foreign currency liquidity             Bank Al-Maghrib
 I- International reserves              
Gold MDH Aug/26 29.443 26.929 9,3  
SDR's MDH Aug/26 18.666 18.740 -0,4    
Foreign currencies MDH Aug/26 449.793 450.412 -0,1    
IMF reserve position MDH Aug/26 1.911 1.908 0,1    
Total MDH Aug/26 499.813 497.989 0,4    
 II- Reserves Template    Jul/26        
C- Merchandise Trade            Office des Changes
 Total exports (FOB)   MDH Jul/26 38.790 49.013 -20,9    
 Total imports (CAF)   MDH Jul/26 85.109 87.748 -3,0    
D- International Investment position             Office des Changes
Direct investment    MDH   Q1/26 -625.321,2 -644.778,2 -3,0  
Assets   MDH   Q1/26 114.358,8 112.130,7 2,0  
 Equity and investment fund shares    MDH   Q1/26        77.375,00           77.398,50   0,0  
  Direct investor in direct investment  enterprises   MDH   Q1/26        77.375,00           77.398,50   0,0  
 Debt instruments   MDH   Q1/26        36.983,80           34.732,20   6,5  
  Direct investor in direct investment enterprises   MDH   Q1/26        36.983,80           34.732,20   6,5  
Liabilities   MDH   Q1/26 739.680,0 756.908,9 -2,3  
 Equity and investment fund shares    MDH   Q1/26      626.334,60         650.700,10   -3,7  
  Direct investor in direct investment  enterprises   MDH   Q1/26      626.334,60         650.700,10   -3,7  
 Debt instruments   MDH   Q1/26      113.345,40         106.208,80   6,7  
  Direct investor in direct investment enterprises   MDH   Q1/26      113.345,40         106.208,80   6,7  
Portfolio investment    MDH   Q1/26 -168.345,3 -171.791,8 -2,0  
Assets   MDH   Q1/26 26.037,9 26.091,4 -0,2  
 Equity and investment fund shares    MDH   Q1/26        11.750,56           11.224,96   4,7  
 Deposit-taking corporations, except central bank   MDH   Q1/26          1.125,80             1.114,90   1,0  
 Other sectors   MDH   Q1/26        10.624,76           10.110,06   5,1  
  Other financial corporations   MDH   Q1/26          2.260,60             2.147,20   5,3  
  Nonfinancial corporations, households, and NPISHs   MDH   Q1/26          8.364,16             7.962,86   5,0  
 Debt securities    MDH   Q1/26        14.287,30           14.866,40   -3,9  
 Deposit-taking corporations, except central bank   MDH   Q1/26        12.909,40           13.514,20   -4,5  
 Other sectors   MDH   Q1/26          1.377,90             1.352,20   1,9  
  Other financial corporations   MDH   Q1/26          1.368,60             1.343,10   1,9  
  Nonfinancial corporations, households, and NPISHs   MDH   Q1/26                 9,30                    9,10   -  
Liabilities   MDH   Q1/26 194.383,2 197.883,2 -1,8  
 Equity and investment fund shares    MDH   Q1/26        47.038,20           50.215,20   -6,3  
 Deposit-taking corporations, except central bank   MDH   Q1/26        17.588,90           18.911,00   -7,0  
 Other sectors   MDH   Q1/26        29.449,30           31.304,20   -5,9  
  Other financial corporations   MDH   Q1/26          5.163,20             5.223,30   -1,2  
  Nonfinancial corporations, households, and NPISHs   MDH   Q1/26        24.286,10           26.080,90   -6,9  
 Debt securities    MDH   Q1/26      147.345,00         147.668,00   -0,2  
 Deposit-taking corporations, except central bank   MDH   Q1/26                     -                          -     #DIV/0!  
 General government   MDH   Q1/26        91.950,00           93.277,00   -1,4  
 Other sectors   MDH   Q1/26        55.395,00           54.391,00   1,8  
  Nonfinancial corporations, households, and NPISHs   MDH   Q1/26        55.395,00           54.391,00   1,8  
Financial derivatives (other than reserves) and employee stock options    MDH   Q1/26 87,5 187,4 -53,3  
Assets   MDH   Q1/26 406,6 400,7 1,5  
Liabilities   MDH   Q1/26 319,1 213,3 49,6  
Other investment    MDH   Q1/26 -413.429,9 -418.315,0 -1,2  
 Other equity    MDH   Q1/26 4.924,2 4.764,9 3,3  
Assets   MDH   Q1/26 4.924,2 4.764,9 3,3  
Liabilities   MDH   Q1/26                     -                          -     -  
 Currency and deposits    MDH   Q1/26 43.665,1 27.714,7 57,6  
Assets   MDH   Q1/26 90.733,0 81.043,8 12,0  
 Central banks   MDH   Q1/26             432,20                538,90   -19,8  
 Deposit-taking corporations, except central bank   MDH   Q1/26        87.607,40           77.344,00   13,3  
 Other sectors   MDH   Q1/26          2.693,40             3.160,90   -14,8  
  Other financial corporations   MDH   Q1/26               40,00                  39,50   1,3  
  Nonfinancial corporations, households, and NPISHs   MDH   Q1/26          2.653,40             3.121,40   -15,0  
Liabilities   MDH   Q1/26 47.067,9 53.329,1 -11,7  
 Central banks   MDH   Q1/26          2.579,30             2.422,40   6,5  
 Deposit-taking corporations, except central bank   MDH   Q1/26        44.488,60           50.906,70   -12,6  
 Loans    MDH   Q1/26 -404.699,8 -392.400,6 3,1  
Assets   MDH   Q1/26 659,0 655,9 0,5  
 Deposit-taking corporations, except central bank   MDH   Q1/26             659,00                655,90   0,5  
Liabilities   MDH   Q1/26 405.358,8 393.056,5 3,1  
 Central banks   MDH   Q1/26                     -                          -     #DIV/0!  
 Deposit-taking corporations, except central bank   MDH   Q1/26          9.871,40           10.441,00   -5,5  
 General government   MDH   Q1/26      213.675,00         209.518,00   2,0  
 Other sectors   MDH   Q1/26      181.812,40         173.097,50   5,0  
  Other financial corporations   MDH   Q1/26             549,10                605,40   -9,3  
  Nonfinancial corporations, households, and NPISHs   MDH   Q1/26      181.263,30         172.492,10   5,1  
 Insurance, pension, and standardized guarantee schemes    MDH   Q1/26 716,7 1.098,1 -34,7  
Assets   MDH   Q1/26 3.961,5 4.201,1 -5,7  
Liabilities   MDH   Q1/26 3.244,8 3.103,0 4,6  
 Trade credit and advances    MDH   Q1/26 -39.928,1 -41.687,1 -4,2  
Assets   MDH   Q1/26 23.445,0 20.792,1 12,8  
 Other sectors   MDH   Q1/26        23.445,00           20.792,10   12,8  
   Nonfinancial corporations, households, and NPISHs   MDH   Q1/26        23.445,00           20.792,10   12,8  
Liabilities   MDH   Q1/26 63.373,1 62.479,2 1,4  
 Other sectors   MDH   Q1/26        63.373,10           62.479,20   1,4  
  Nonfinancial corporations, households, and NPISHs   MDH   Q1/26        63.373,10           62.479,20   1,4  
 Special drawing rights  (Net incurrence of liabilities)   MDH   Q1/26 -70,0 -70,0 0,0  
Liabilities   MDH   Q1/26 0,0 0,0 #DIV/0!  
 Special drawing rights  (Net incurrence of liabilities)   MDH   Q1/26 70,0 70,0 0,0  
 Other accounts receivable / payable   MDH   Q1/26 -18.038,0 -17.735,0 1,7  
Assets   MDH   Q1/26 18.038,0 17.735,0 1,7  
Liabilities   MDH   Q1/26        18.038,00           17.735,00   1,7  
Reserve assets    MDH   Q1/26 457.827,4 442.910,8 3,4  
Net International Investment Position   MDH   Q1/26 -749.181,5 -791.786,8 -5,4  
E- Exchange rate (quotidien)             Bank Al-Maghrib
             
GROSS EXTERNAL DEBT
I - General Government   MDH   Q1/26 305.625,4 302.795,0 0,9% Ministry of Economy and Finance
a) Short-term   MDH   Q1/26 0,0 0,0      
   Money market instruments   MDH   Q1/26          
   Loans   MDH   Q1/26          
   Trade credits   MDH   Q1/26        
   Other debt liabilities   MDH   Q1/26          
b) Long term   MDH   Q1/26 305.625,4 302.795,0 0,9%    
   Bonds and notes   MDH   Q1/26 91.949,8 93.276,9 -1,4%    
   Loans   MDH   Q1/26 213.675,6 209.518,1 2,0%    
   Trade credits   MDH   Q1/26        
   Other debt liabilities   MDH   Q1/26          
II - Monetary Authorities   MDH   Q1/26 20.617,3 20.157,4 2,3% Bank Al-Maghrib
a) Short-term   MDH   Q1/26 2.579,3 2.422,4 6,5%    
   Money market instruments   MDH   Q1/26          
   Loans   MDH   Q1/26          
   Currency and deposits   MDH   Q1/26 2.579,3 2.422,4 6,5%    
   Other debt liabilities   MDH   Q1/26          
b) Long term   MDH   Q1/26 18.038,0 17.735,0 1,7%    
   Bonds and notes   MDH   Q1/26          
   Loans   MDH   Q1/26 0,0 0,0      
   Currency and deposits   MDH   Q1/26          
   Other debt liabilities   MDH   Q1/26 18.038,0 17.735,0 1,7%    
III - Banks   MDH   Q1/26 25.016,8 24.958,5 0,2% Bank Al-Maghrib
a) Short-term   MDH   Q1/26 12.224,5 11.618,2 5,2%    
   Money market instruments   MDH   Q1/26          
   Loans   MDH   Q1/26 3.297,9 6.650,6 -50,4%    
   Currency and deposits   MDH   Q1/26 8.706,0 4.747,0 83,4%    
   Other debt liabilities   MDH   Q1/26 220,6 220,6 0,0%    
b) Long term   MDH   Q1/26 12.792,3 13.340,4 -4,1%    
   Bonds and notes   MDH   Q1/26          
   Loans   MDH   Q1/26 12.792,3 13.340,4 -4,1%    
   Currency and deposits   MDH   Q1/26          
   Other debt liabilities   MDH   Q1/26          
IV - Other Sectors   MDH   Q1/26 300.580,5 289.968,2 3,7%    
A- State owned entreprises debt and publicly guaranteed debt    MDH   Q1/26 217.820,0 207.772,5 4,8% Ministry of Economy and Finance
a) Short-term   MDH   Q1/26 0,0 0,0      
   Money market instruments   MDH   Q1/26          
   Loans   MDH   Q1/26          
   Currency and deposits   MDH   Q1/26          
   Trade credits   MDH   Q1/26        
   Other debt liabilities   MDH   Q1/26          
b) Long term   MDH   Q1/26 217.820,0 207.772,5 4,8%    
   Bonds and notes   MDH   Q1/26 55.394,7 54.391,0 1,8%    
   Loans   MDH   Q1/26 162.425,3 153.381,5 5,9%    
   Currency and deposits   MDH   Q1/26          
   Trade credits   MDH   Q1/26        
   Other debt liabilities   MDH   Q1/26          
B- Private debt non guaranteed by the Government   MDH   Q1/26 82.760,5 82.195,7 0,7% Office des Changes
a) Short-term   MDH   Q1/26 63.373,1 62.479,2 1,4%    
   Money market instruments   MDH   Q1/26          
   Loans   MDH   Q1/26 0,0 0,0 -    
   Currency and deposits   MDH   Q1/26          
   Trade credits   MDH   Q1/26 63.373,1 62.479,2 1,4%  
   Other debt liabilities   MDH   Q1/26          
b) Long term   MDH   Q1/26 19.387,4 19.716,5 -1,7%    
   Bonds and notes   MDH   Q1/26          
   Loans   MDH   Q1/26 19.387,4 19.716,5 -1,7%    
   Currency and deposits   MDH   Q1/26          
   Trade credits   MDH   Q1/26 0,0 0,0 -  
   Other debt liabilities   MDH   Q1/26          
V - Direct Investment   MDH   Q1/26 113.345,4 106.208,8 6,7%    
 Debt liabilities to direct investors   MDH   Q1/26 113.345,4 106.208,8 6,7%    
Gross external debt   MDH   Q1/26 765.185,4 744.087,9 2,8%    
             
POPULATION
 Population   Thousands 2024 36.828 33.848 8,8 Haut Commissariat au Plan
  * For Central Governement Operations, "Previous Period" refers to the same period of the last year.
** The Balance of Payments is established according to the sixth edition of the IMF Manual.
     Changes in balances are expressed in millions of dirhams (MDH).