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African economies
Morocco · Economy

Morocco economy: GDP, investment, trade and remittances

How large the Morocco economy is and how fast it is growing, who invests in it, what it sells and buys, how much its citizens abroad send home, who it owes and what it holds in reserve. The latest published year is shown with each figure.

GDP
US$182.4 billion
current US$, 2025
Real GDP growth
4.6%
2025
GDP per person
US$4,672
current US$, 2025
Exports of goods
US$88.8 billion
2025
Remittances received
US$13.7 billion
2025, 7.5% of GDP
Foreign direct investment, net inflows
US$3.3 billion
2025, 1.8% of GDP

Morocco economy snapshot: GDP, growth and income per person

Morocco's GDP was US$182.4 billion in 2025, after real growth of 4.6%.

GDP

Current US dollars.

050bn100bn150bn200bn201520172019202120232025GDP 2015: US$110.4 billionGDP 2016: US$111.6 billionGDP 2017: US$118.5 billionGDP 2018: US$127.3 billionGDP 2019: US$128.9 billionGDP 2020: US$121.4 billionGDP 2021: US$142.0 billionGDP 2022: US$131.2 billionGDP 2023: US$146.0 billionGDP 2024: US$160.6 billionGDP 2025: US$182.4 billion

Real GDP growth

Annual change, per cent. Red bars are contractions.

-10%-5%0%5%10%201520172019202120232025Real GDP growth 2015: 4.3%Real GDP growth 2016: 0.5%Real GDP growth 2017: 5.1%Real GDP growth 2018: 3.1%Real GDP growth 2019: 2.9%Real GDP growth 2020: -7.2%Real GDP growth 2021: 8.2%Real GDP growth 2022: 1.8%Real GDP growth 2023: 3.7%Real GDP growth 2024: 3.8%Real GDP growth 2025: 4.6%

GDP per person

Current US dollars.

02k4k6k201520172019202120232025GDP per person 2015: US$3,146GDP per person 2016: US$3,141GDP per person 2017: US$3,297GDP per person 2018: US$3,502GDP per person 2019: US$3,508GDP per person 2020: US$3,268GDP per person 2021: US$3,786GDP per person 2022: US$3,463GDP per person 2023: US$3,814GDP per person 2024: US$4,153GDP per person 2025: US$4,672

Source: World Bank, 2025. Method

Who invests in Morocco and in what

Direct investment by investing country

France was the largest investing country in Morocco, at 26% of inward direct investment positions in 2024.

Inward direct investment positions in Morocco at the end of 2024: the stock of foreign direct investment, not a year's new flow. The 10 largest investing countries.

FranceUS$13.3 billion26.4%
United Arab EmiratesUS$9.3 billion18.5%
SpainUS$4.2 billion8.3%
SwitzerlandUS$2.4 billion4.7%
ItalyUS$2.2 billion4.4%
United KingdomUS$2.1 billion4.1%
United StatesUS$1.9 billion3.8%
GermanyUS$1.6 billion3.2%
KuwaitUS$1.5 billion3.0%
Saudi ArabiaUS$1.5 billion2.9%

Source: IMF, 2024. Method

What Morocco sells and buys

Electrical machinery and equipment was 20% of exports in 2025.

Morocco sold the most to Spain, 22% of exports in 2025.

Exports by product, 2025

Tile area follows value. Each tile is a customs chapter of the Harmonized System; hover for the full name.

Electrical machinery and equipment and parts thereof: US$17.9 billion, 20.1%Electrical machinery and equi…20%Vehicles: US$16.1 billion, 18.2%Vehicles18%Fertilizers: US$15.4 billion, 17.3%Fertilisers17%Apparel and clothing accessories: US$6.1 billion, 6.8%Clothing, not kni…7%Inorganic chemicals: US$3.8 billion, 4.3%Inorganic che…4%Aircraft, spacecraft, and parts thereof: US$3.8 billion, 4.3%Aircraft4%Fruit and nuts, edible: US$2.4 billion, 2.7%Edible f…3%Vegetables and certain roots and tubers: US$2.3 billion, 2.5%Fish and crustaceans, molluscs and other aquatic invertebrates: US$1.9 billion, 2.1%Apparel and clothing accessories: US$1.8 billion, 2.0%Furniture: US$1.7 billion, 2.0%Salt: US$1.5 billion, 1.7%All other chapters: US$14.1 billion, 15.9%All other chapters16%

Source: UN Comtrade, 2025. Method

Top buyers, 2025

Share of Morocco's exports.

SpainUS$19.6 billion22.1%
FranceUS$17.3 billion19.5%
GermanyUS$5.0 billion5.6%
IndiaUS$4.9 billion5.5%
ItalyUS$3.6 billion4.0%
United KingdomUS$3.5 billion4.0%
United StatesUS$2.9 billion3.2%
BrazilUS$2.6 billion2.9%
TurkeyUS$2.2 billion2.4%
BangladeshUS$1.6 billion1.8%

Top suppliers, 2025

Share of Morocco's imports.

SpainUS$16.5 billion14.7%
ChinaUS$14.2 billion12.7%
FranceUS$11.1 billion9.9%
United StatesUS$10.2 billion9.1%
GermanyUS$6.1 billion5.4%
TurkeyUS$5.7 billion5.1%
ItalyUS$4.8 billion4.2%
Saudi ArabiaUS$3.3 billion2.9%
PortugalUS$3.2 billion2.8%
BrazilUS$2.2 billion1.9%

Source: UN Comtrade, 2025. Method

What Morocco buys, 2025

The 8 largest product chapters in imports.

VehiclesUS$13.0 billion11.6%
Electrical machinery and equipmentUS$13.0 billion11.6%
Mineral fuels and oilsUS$11.6 billion10.4%
Machinery and mechanical appliancesUS$10.6 billion9.4%
PlasticsUS$4.9 billion4.4%
AircraftUS$4.0 billion3.6%
Salt, sulphur, earth and stoneUS$3.4 billion3.0%
CerealsUS$2.9 billion2.6%

Source: UN Comtrade, 2025. Method

Trade balance of goods

Exports minus imports. Red bars are years when imports were larger. A year is left out when either side is not published.

-40bn-30bn-20bn-10bn0201520172019202120232025Trade balance 2015: -US$15.8 billion (exports US$22.3 billion, imports US$38.1 billion)Trade balance 2016: -US$18.8 billion (exports US$22.9 billion, imports US$41.7 billion)Trade balance 2017: -US$19.4 billion (exports US$25.6 billion, imports US$45.0 billion)Trade balance 2018: -US$21.9 billion (exports US$29.3 billion, imports US$51.3 billion)Trade balance 2019: -US$21.5 billion (exports US$29.6 billion, imports US$51.0 billion)Trade balance 2020: -US$16.8 billion (exports US$27.7 billion, imports US$44.5 billion)Trade balance 2021: -US$22.1 billion (exports US$36.6 billion, imports US$58.7 billion)Trade balance 2022: -US$30.4 billion (exports US$42.2 billion, imports US$72.6 billion)Trade balance 2023: -US$28.2 billion (exports US$42.5 billion, imports US$70.6 billion)Trade balance 2024: -US$17.4 billion (exports US$80.6 billion, imports US$98.0 billion)Trade balance 2025: -US$23.2 billion (exports US$88.8 billion, imports US$112.0 billion)

Source: UN Comtrade, 2025. Method

Remittances against foreign direct investment in Morocco

Remittances to Morocco were 4.1 times foreign direct investment in 2025.

Remittances receivedForeign direct investment, net inflows
05.0bn10bn15bn201520172019202120232025Remittances 2015: US$6.9 billionRemittances 2016: US$6.4 billionRemittances 2017: US$6.8 billionRemittances 2018: US$6.9 billionRemittances 2019: US$7.0 billionRemittances 2020: US$7.4 billionRemittances 2021: US$10.9 billionRemittances 2022: US$11.2 billionRemittances 2023: US$11.7 billionRemittances 2024: US$12.5 billionRemittances 2025: US$13.7 billionForeign direct investment 2015: US$3.3 billionForeign direct investment 2016: US$2.2 billionForeign direct investment 2017: US$2.7 billionForeign direct investment 2018: US$3.5 billionForeign direct investment 2019: US$1.7 billionForeign direct investment 2020: US$1.4 billionForeign direct investment 2021: US$2.3 billionForeign direct investment 2022: US$2.3 billionForeign direct investment 2023: US$1.1 billionForeign direct investment 2024: US$1.7 billionForeign direct investment 2025: US$3.3 billion

Source: World Bank, 2026. Method

Remittances and investment as a share of GDP

The same two flows measured against the size of the economy.

Remittances, share of GDPForeign direct investment, share of GDP
0%3%5%8%10%201520172019202120232025Remittances 2015: 6.3%Remittances 2016: 5.7%Remittances 2017: 5.8%Remittances 2018: 5.4%Remittances 2019: 5.4%Remittances 2020: 6.1%Remittances 2021: 7.7%Remittances 2022: 8.5%Remittances 2023: 8.0%Remittances 2024: 7.8%Remittances 2025: 7.5%Foreign direct investment 2015: 2.9%Foreign direct investment 2016: 1.9%Foreign direct investment 2017: 2.3%Foreign direct investment 2018: 2.8%Foreign direct investment 2019: 1.3%Foreign direct investment 2020: 1.2%Foreign direct investment 2021: 1.6%Foreign direct investment 2022: 1.7%Foreign direct investment 2023: 0.7%Foreign direct investment 2024: 1.1%Foreign direct investment 2025: 1.8%

Source: World Bank, 2026. Method

Who Morocco owes

External debt stock by type of creditor. Creditor types cover public and publicly guaranteed debt; the grey part is the rest of the total external debt stock. A creditor type with no published figure is not shown.

Multilateral creditors held 32% of Morocco's external debt stock in 2024.

Public external debt owed to China was US$287 million in 2024, 0% of the external debt stock.

MultilateralBilateralBondsCommercial banksRest of the totalPublic debt owed to China
020bn40bn60bn80bn20152017201920212023Multilateral 2015: US$13.3 billionBilateral 2015: US$7.3 billionBonds 2015: US$6.3 billionCommercial banks 2015: US$4.4 billionRest of the total 2015: US$13.3 billionMultilateral 2016: US$13.7 billionBilateral 2016: US$7.5 billionBonds 2016: US$6.2 billionCommercial banks 2016: US$4.2 billionRest of the total 2016: US$16.2 billionMultilateral 2017: US$16.2 billionBilateral 2017: US$8.3 billionBonds 2017: US$6.5 billionCommercial banks 2017: US$4.0 billionRest of the total 2017: US$16.4 billionMultilateral 2018: US$15.8 billionBilateral 2018: US$7.6 billionBonds 2018: US$6.4 billionCommercial banks 2018: US$3.9 billionRest of the total 2018: US$17.0 billionMultilateral 2019: US$16.8 billionBilateral 2019: US$7.1 billionBonds 2019: US$7.6 billionCommercial banks 2019: US$5.2 billionRest of the total 2019: US$18.6 billionMultilateral 2020: US$19.8 billionBilateral 2020: US$7.6 billionBonds 2020: US$10.9 billionCommercial banks 2020: US$5.5 billionRest of the total 2020: US$22.2 billionMultilateral 2021: US$19.2 billionBilateral 2021: US$7.0 billionBonds 2021: US$11.6 billionCommercial banks 2021: US$4.6 billionRest of the total 2021: US$23.4 billionMultilateral 2022: US$20.0 billionBilateral 2022: US$7.1 billionBonds 2022: US$9.9 billionCommercial banks 2022: US$4.3 billionRest of the total 2022: US$23.7 billionMultilateral 2023: US$21.1 billionBilateral 2023: US$7.2 billionBonds 2023: US$12.5 billionCommercial banks 2023: US$4.3 billionRest of the total 2023: US$24.6 billionMultilateral 2024: US$21.5 billionBilateral 2024: US$7.2 billionBonds 2024: US$13.6 billionCommercial banks 2024: US$3.3 billionRest of the total 2024: US$22.3 billionPublic debt owed to China 2015: US$523 millionPublic debt owed to China 2016: US$664 millionPublic debt owed to China 2017: US$626 millionPublic debt owed to China 2018: US$559 millionPublic debt owed to China 2019: US$485 millionPublic debt owed to China 2020: US$445 millionPublic debt owed to China 2021: US$406 millionPublic debt owed to China 2022: US$366 millionPublic debt owed to China 2023: US$327 millionPublic debt owed to China 2024: US$287 million

Source: World Bank, 2026. Method

Reserves and months of import cover

Total reserves including gold, and how many months of imports they cover.

Reserves, US$Months of imports
020bn40bn60bn035810201520172019202120232025Reserves 2015: US$22.7 billionReserves 2016: US$25.1 billionReserves 2017: US$26.2 billionReserves 2018: US$24.5 billionReserves 2019: US$26.4 billionReserves 2020: US$36.0 billionReserves 2021: US$35.6 billionReserves 2022: US$32.3 billionReserves 2023: US$36.3 billionReserves 2024: US$37.1 billionReserves 2025: US$48.5 billionMonths of imports 2015: 6.3 monthsMonths of imports 2016: 6.3 monthsMonths of imports 2017: 6.0 monthsMonths of imports 2018: 5.0 monthsMonths of imports 2019: 5.6 monthsMonths of imports 2020: 8.9 monthsMonths of imports 2021: 6.8 monthsMonths of imports 2022: 5.1 monthsMonths of imports 2023: 5.6 monthsMonths of imports 2024: 5.3 monthsMonths of imports 2025: 5.9 months

Source: World Bank, 2026. Method

Aid received by Morocco

Net official development assistance and official aid received.

01.0bn2.0bn3.0bn20152017201920212023Aid received 2015: US$1.5 billionAid received 2016: US$2.1 billionAid received 2017: US$2.4 billionAid received 2018: US$818 millionAid received 2019: US$753 millionAid received 2020: US$1.8 billionAid received 2021: US$995 millionAid received 2022: US$1.4 billionAid received 2023: US$772 million

Source: World Bank, 2026. Method

More on Morocco

World Bank data pages for Morocco: GDP, GDP growth, GDP per person, remittances, foreign direct investment, reserves, months of imports, external debt, debt by creditor, aid. UN Comtrade: trade data. IMF: direct investment positions.