FX.co ★ Morocco GDP Growth Remains Solid in Q4

In the fourth quarter of 2024, Morocco experienced a year-on-year GDP growth of 3.7%, marking a slight deceleration from the previous quarter's 4.3% increase, the most robust expansion since Q4 2021. Non-agricultural sectors showed a growth of 4.4%, with industrial output climbing by 4.9%. This expansion was propelled by significant gains in the extraction industry, which surged by 6.5%, alongside advances in manufacturing (3.7%), construction (7%), and utilities (5.7%). The services sector also recorded an increase of 4.2%, primarily fueled by a robust performance in tourism. Specifically, the hospitality sector, encompassing hotels and restaurants, saw a considerable increase of 12.8%. On the contrary, the agricultural sector faced a downturn, contracting by 4.9%.