Morocco GDP growth forecast at 4 percent in 2027

Morocco’s economy is expected to maintain its strong growth momentum in 2027, with gross domestic product (GDP) projected at 4.1%, according to the report on budget execution and the three-year macroeconomic framework accompanying the draft finance bill for the following year.

This growth is based on a moderate 1.2% increase in agricultural value added, assuming a harvest of 70 million quintals, combined with a solid performance by non-agricultural sectors, whose value added is expected to rise by 4.3%, according to the document released by the Ministry of Economy and Finance.

Growth in non-agricultural activities would remain driven primarily by the secondary sector, whose value added is forecast to accelerate to 4.9%, after 4.5% in 2026. The tertiary sector is also expected to post sustained growth of 4.1%, compared with 4% the previous year.

On the demand side, final household consumption, including that of nonprofit institutions, would continue to play a key role, despite a slight slowdown in growth from 4.6% in 2026 to 4.3% in 2027.

General government consumption would remain dynamic, rising by 6.6%, after 9.1% in 2026. Gross fixed capital formation is expected to increase by 4.6%, compared with 4% the previous year, underscoring the continued investment effort and the strengthening of the country’s productive capacity.

Foreign trade is also expected to maintain its positive momentum. Exports of goods and services, in volume terms, could rise by 7.3% in 2027, after a 6.4% increase in 2026, while imports are projected to grow by 7% in 2027, compared with 5.5% the previous year, reflecting the strength of domestic demand and investment.

At current prices, GDP is expected to grow by 6% in 2027, after rising by 6.8% in 2026, pointing to stable real growth and inflation that remains broadly under control.