Morocco's economy grows 4.9% in 2025 as agriculture and investment drive expansion, industrial activity steadies

The High Commission for Planning reports that Morocco’s GDP is projected to expand by 4.9% in 2025, up from 4.4% in 2024. Growth is powered by an 8.2% rebound in agriculture and a 16.3% surge in investment, which alone contributed five percentage points to the increase. Non‑agricultural activity continued to grow but at a slower pace (+3.9% versus +5.1% in 2024). Construction (BTP) posted a solid +6.7% rise, while several service sectors slowed. Inflation remained low at 1.6% year‑on‑year, but the financing gap widened to 2.5% of GDP as investment outpaced national savings.

A Bank of Morocco monthly industrial survey for April 2026 shows overall stability in production and sales, with capacity utilization at 78%. The mechanical and mining sector recorded gains, food manufacturing stayed flat, and chemicals, textiles and leather saw declines. Sales mirrored these trends. Orders rose in chemicals and mining but fell in food and textiles. The bank notes that most manufacturers anticipate higher production and sales in the next three months, except for textiles, where output is expected to fall. About 29% of firms express uncertainty about future developments.