FX.co ★ Morocco GDP Growth Strongest in Over 3 Years

Morocco’s economy demonstrated a notable growth rate of 4.8% in the first quarter of 2025, improving from 3% recorded in the first quarter of 2024 and 3.7% in the final quarter of 2024. This marks the most robust expansion since the last quarter of 2021, when GDP increased by nearly 8%. Driving this growth, the non-agricultural sector increased by 4.6%, with the secondary sector showing particular strength at 4.5%. Within this sector, construction and public works achieved the most significant rise at 6.3%, followed by utilities like electricity and water at 5%, and the manufacturing industry at 3.4%. Nonetheless, the mining sector experienced a notable slowdown in growth to 6.7%, compared to an impressive 19.1% during the same period last year. The services sector also expanded by 4.7%, up from 3.8% the previous year, primarily fueled by the hospitality sector (9.7%), social and health services (6.2%), administrative services (5.3%), and retail trade (4.3%). Furthermore, the agricultural sector experienced a significant recovery, advancing 4.5% after a 4.3% contraction the previous year. This rebound was mainly due to a 4.5% increase in crop production, which reversed a 5% decline, although fishing faced a slight decrease of 0.3% following a substantial 10.6% growth last year.