Morocco Q3 GDP Annual Growth Slows to 4%

Morocco’s economy expanded by 4.0% year-on-year in Q3 2025, down from 5.5% in Q2 and 5.0% in the same period a year earlier, marking the weakest GDP growth since Q4 2024. Growth was driven by non-agricultural activities (3.8%) and agricultural activities (4.4%). Meanwhile, the secondary sector grew 3.8%, supported by electricity, gas, water, sanitation & waste treatment (5.9%), construction and public works (5.6%), and manufacturing (2.6%). The tertiary sector rose 4.2%, led by accommodation and food services (7.4%), financial services and insurance (6.8%), education, health, and social work (5.7%), transportation and warehousing (3.5%), and trade and repair of motor vehicles (3.2%). By contrast, fisheries activities plunged by 24.4%.

Morocco’s economy grew by a notable 5.5% in Q2 2025, up from 4.8% in Q1 and 2.4% in the same period a year ago. This was the strongest economic performance since Q4 2021, mainly boosted by non-agricultural activities (+5.5%). Within this, the secondary sector grew 7.4%, driven by electricity, gas, water, sanitation, and waste treatment (8.9%), manufacturing (6.9%), and construction and public works (6.7%). The tertiary sector rose 4.8%, led by hotels and restaurants (10.5%), public administration and social security (4.8%), and trade and vehicle repair (4.4%). At the same time, the agricultural sector grew 4.7%, while fisheries activities contracted by 7.7%.

Morocco’s economy expanded by 4.8% in Q1 2025, up from 3% in Q1 2024 and 3.7% in Q4 2024, marking the strongest performance since Q4 2021 when GDP rose nearly 8%. The non-agricultural sector grew 4.6%, led by a robust 4.5% increase in the secondary sector. Construction and public works posted the highest growth at 6.3%, followed by electricity and water at 5%, and manufacturing at 3.4%. However, the mining sector’s growth moderated significantly to 6.7%, down from 19.1% in the corresponding quarter last year. The services sector grew 4.7%, up from 3.8% the prior year, driven primarily by hotels and restaurants (9.7%), social and health services (6.2%), administrative services (5.3%), and retail trade (4.3%). Meanwhile, agricultural activity saw a sharp turnaround, growing 4.5% after contracting by 4.3% a year ago. Crop production led the recovery with 4.5% growth, reversing a 5% decline, while fishing dipped 0.3% following 10.6% growth last year.