Key Market Indicators
Morocco's energy consumption is projected to reach 1.06 exajoules by 2028, up from 0.97 exajoules in 2023. This marks an average annual growth rate of 1.5%. Since 1970, the country's energy demand has increased by an average of 2.1% per year. As of 2023, Morocco ranked 57th globally in energy consumption, with Switzerland slightly ahead at 0.97 exajoules. The United States, India, and Russia held the top three positions in this ranking. On the supply side, Morocco's energy supply is anticipated to grow to 25.91 million tonnes of oil equivalent by 2028, rising from 23.7 million tonnes of oil equivalent in 2023. This represents an annual compound growth rate of 1.5%. Since 1976, the nation's energy supply has expanded by an average of 2.8% annually. In 2023, Morocco ranked 15th in energy supply, with Myanmar surpassing it at 23.7 million tonnes of oil equivalent. France, Saudi Arabia, and the United Kingdom occupied the second, third, and fourth positions, respectively.
