Morocco: GDP growth forecast at 4% in 2027
Morocco’s economy is expected to grow by 4.1% in 2027, supported by stronger non-agricultural activity.
Morocco’s economy is expected to grow by 4.1% in 2027, supported by stronger non-agricultural activity, according to the pro-Moroccan Yabiladi and agencies on September 13th.
Agricultural value added is projected to increase 1.2%, assuming a 70-million-quintal harvest, while non-agricultural sectors could expand by 4.3%.
The secondary sector is forecast to accelerate by 4.9%, while services grow 4.1% and household consumption, government spending, as well as investment should remain robust.
Exports could rise 7.3% and imports 7%, while nominal GDP increases 6%, indicating sustained growth alongside broadly controlled inflation.
Recent investment trends suggest that this growth is increasingly being driven by industrialisation and diversification.
Foreign direct investment inflows rose by 91% in 2025 to $3.6 billion, up from $1.74 billion in 2024.
Automotive manufacturing, renewable energy and industrial production were among the main beneficiaries.
Car manufacturer Stellantis announced a $1.5 billion expansion, highlighting Morocco’s growing appeal as a manufacturing and export hub.
Morocco’s industrial transformation is particularly significant. The country has overtaken South Africa as Africa’s most industrialised economy, with the African Development Bank attributing its progress to sustained public and foreign investment, expanding industrial zones and modern transport infrastructure.
The Tanger Med port has become a critical gateway connecting Moroccan factories to European and global markets.
Automotive and aerospace manufacturing have increasingly replaced dependence on traditional phosphate-based industries.
Morocco produced more than one million vehicles in 2025, overtaking South Africa as Africa’s largest vehicle producer.
The growth of local suppliers, industrial zones, skilled labour and logistics infrastructure is helping Morocco move towards higher-value manufacturing and stronger export capacity.
Tourism and services are another important source of growth; Morocco aims to attract 26 million tourists annually by 2030, with investment in hotels, airports, railways and urban infrastructure expected to support tourism and related industries.
Preparations for the 2030 World Cup through plans to add around 60,000 hotel beds and expand accommodation capacity by roughly 20% could provide an additional boost.
However, the IMF has warned that high infrastructure spending will need to be carefully managed to avoid cost overruns and rising debt.
Despite this growth forecast, Morocco still faces job shortages and needs to ensure that the benefits of industrial expansion reach a wider share of the population.
Labour force participation fell from 53.1% in 2000 to 43.5% in 2024; the economy generated 370,000 fewer jobs per year than what was required to keep employment levels stable between 2020 and 2024.
Climate change, water shortages, and the vulnerability of agriculture to rainfall also remain important concerns.
Yabiladi, Maghrebi.org
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