Morocco 2027 GDP Growth Forecast at 4.1 Percent

Morocco’s gross domestic product is forecast to grow by 4.1 percent in 2027. This figure comes from the budget execution report accompanying the draft finance bill. The projection assumes a stable macroeconomic environment for the coming year.

The Ministry of Economy and Finance released the three-year macroeconomic framework. The document outlines specific sectoral contributions to this growth. Non-agricultural activities are the primary engine of the forecast.

Sectoral performance drives expansion

Agricultural value added is expected to rise by 1.2 percent. This assumes a harvest of 70 million quintals. The non-agricultural sector shows stronger momentum with a projected 4.3 percent increase.

The secondary sector leads non-agricultural growth at 4.9 percent. This accelerates from 4.5 percent in 2026. The tertiary sector follows with 4.1 percent growth, slightly above the 4 percent recorded in the previous year.

Demand and investment remain strong

Household consumption growth slows to 4.3 percent from 4.6 percent in 2026. General government consumption rises by 6.6 percent. This follows a 9.1 percent increase in the prior year.

Gross fixed capital formation increases by 4.6 percent. This is up from 4 percent in 2026. The data indicates continued investment in productive capacity across the economy.

Trade and price stability outlook

Exports of goods and services are projected to rise by 7.3 percent in volume. This exceeds the 6.4 percent growth seen in 2026. Imports are expected to expand by 7 percent, reflecting robust domestic demand.

At current prices, GDP growth is estimated at 6 percent. This is lower than the 6.8 percent increase in 2026. The figures suggest stable real growth with inflation under control, as noted by GN markets/growth (en-US).