Economic Imbalance: Morocco's Wealth Concentrated in Key Regions

Tuesday 03 September 2024 - 13:40

Morocco's economic landscape in 2022 revealed stark regional disparities, with nearly 60% of the nation's wealth concentrated in just three regions, according to data released by the High Commission for Planning (HCP). This concentration highlights the challenges of balanced economic development across the country.

The economic powerhouses of Casablanca-Settat, Rabat-Salé-Kénitra, and Tangier-Tetouan-Al Hoceima collectively generated 57.9% of Morocco's Gross Domestic Product (GDP) at current prices. Casablanca-Settat led the pack, contributing a substantial 31.4% to the national wealth, underscoring its role as the country's economic epicenter.

In contrast, the less economically vibrant regions of Drâa-Tafilalet and the three southern regions combined accounted for a mere 7.9% of the GDP, illustrating the significant economic divide within the country.

This wealth concentration has exacerbated regional economic disparities. The HCP report noted that the average absolute gap between regional GDPs widened from MAD 72 billion in 2021 to MAD 73.1 billion in 2022, reflecting a growing economic divide.

While the national economy recorded a modest growth rate of 1.5% in 2022, regional performance varied widely. Only four regions surpassed this figure, with Souss-Massa leading at 7.5%, followed by Rabat-Salé-Kénitra (5.2%), Marrakech-Safi (4.6%), and Laâyoune-Sakia El Hamra (2.9%). Six other regions posted positive growth rates below the national average, with Casablanca-Settat managing a mere 0.2% increase.

However, not all regions experienced growth. Béni Mellal-Khénifra and Fès-Meknès faced economic contractions, with GDPs shrinking by 4.7% and 1.9%, respectively.

Overall, Morocco's GDP in 2022 reached MAD 1,296 billion in volume, marking a 1.5% growth from the previous year. At current prices, the GDP totaled MAD 1,330.5 billion, reflecting a 4.2% increase.

These figures highlight the ongoing challenge for Morocco to achieve more balanced regional economic development. As the country continues its economic growth trajectory, addressing these regional disparities will be crucial for ensuring inclusive and sustainable development across all regions.