This surpasses the 2.5% growth recorded in the first quarter, indicating a strengthening economic performance.
Q2 growth outpaced Q1, reflecting a more robust economic trajectory. The secondary and tertiary sectors (manufacturing and services) were the primary drivers of this positive growth. Non-agricultural activities are nearing pre-COVID-19 levels, reaching a growth rate of 3.7%.
Value added surged by a significant 15.6%, fueled by rising exports of non-metallic ores and increased domestic demand. The sector continued its recovery, with a growth rate of 3%, driven by public works projects. Growth returned to a more sustainable pace, recording a 3.5% increase in value added. These sectors, crucial to Morocco’s economy, benefited from a rebound in domestic demand. The only sector experiencing a decline, with a 4.9% decrease in value added compared to the same period in 2023.
While the overall outlook is positive, the decline in agricultural value added presents a challenge. Addressing this issue will be crucial for maintaining balanced economic growth in Morocco.
MN/ac/fss/abj/APA