According to the latest national accounts released by the High Commission for Planning (HCP) on Tuesday, March 31, 2026, Morocco’s economic growth experienced a slight slowdown to 4.1% during the fourth quarter of 2025, compared to 4.2% during the same period in 2024.
This growth was largely sustained by domestic demand within a context of controlled inflation, despite a noted increase in the national economy’s financing requirements.
A detailed look at the sectors reveals a mixed performance across the Moroccan economy. Non-agricultural activities saw their growth rate decelerate from 4.8% to 4%, while the agricultural sector staged a significant recovery, posting a 4.7% increase after a previous decline of 4.8%. Within the secondary sector, growth slowed to 3.5% due to a contraction in mining activities and reduced momentum in construction, public works, and the electricity and water sectors. Conversely, manufacturing industries showed resilience and improvement, with growth climbing from 2.4% to 4.1% year-on-year.
The services sector also faced a cooldown, with its growth rate dropping from 5.4% to 4.4% in the final quarter of 2025. This downward trend was observed across several sub-sectors, including financial services, healthcare, education, and transportation. While the primary sector showed overall improvement at 3.9%, this recovery was partially offset by a sharp 13.6% decline in fishing activities. Finally, at current prices, the Gross Domestic Product grew by 6.8%, down from 9.1% the previous year, a shift that reflects a cooling of the general price level from 4.9% to 2.7%.
AK/te/fss/abj/APA