Morocco

Morocco: Mid-Sized Economy, Above-Average Military Share

Morocco's GDP was $160.6 billion in 2024, with per capita output of $4,153 across a population of 38.1 million, per the World Bank's WDI figures for that year.

Fiscal and External Position

The IMF's WEO projects government debt at 65.8 percent of GDP in 2026, a forward estimate rather than an actual outturn. Reserves stood at $45.4 billion as of 2025, per IMF IFS data.

Military Posture

SIPRI's 2025 figures put military expenditure at $6.33 billion, or 3.543 percent of GDP — a sizable share of economic output on its own terms. That ratio is calculated against SIPRI's own GDP series, not the WDI figure cited above, and the two should not be combined. Active personnel numbered 196,000 as of 2022, per COW NMC, with a CINC score of 0.0040 in the same release. Both figures are three years old relative to the 2025 spending data.

Governance

V-Dem's 2025 data gives Morocco an electoral democracy index of 0.259 and a liberal democracy index of 0.251 — low readings — alongside a state capacity score of 0.526, which is markedly higher than Morocco's own democracy scores in the same release.

Energy

Morocco's domestic energy base is limited: primary energy consumption was 0.9949 exajoules in 2024 and electricity generation reached 44.5 TWh in 2025, per Our World in Data. Oil production of 0.099 TWh and gas production of 0.922 TWh are both sourced to 2016 — nine years stale relative to the rest of this profile — and indicate minimal domestic hydrocarbon output at that time, saying nothing about current levels.

Reading the Figures Together

Morocco's reserves of $45.4 billion (2025, IMF IFS) are more than seven times its 2025 military budget of $6.33 billion (SIPRI), though the figures are drawn from different sources. Its state capacity score of 0.526 (2025, V-Dem) is more than double its liberal democracy score of 0.251 from the same release — a sizable internal gap between administrative function and liberal political constraints as V-Dem measures them.

What the Data Does Not Show

No figures are supplied on territorial disputes, phosphate-sector economics, foreign military partnerships, or current-year hydrocarbon production. The gap between the dated 2016 energy-production figures and the 2024-25 consumption figures should not be read as a continuous trend — they come from different years and different parts of the energy balance.

Sources: World Bank WDI, IMF WEO, IMF IFS, SIPRI Milex, COW NMC, V-Dem v15, Our World in Data (Energy)