Industry in Morocco

Morocco Industry | Economic News & Forecasts

Morocco - Industry

Annual GDP growth slowed in Q1 2022. A drought caused the agricultural sector to contract 12.1% year on year. Reduced agricultural rents and softer remittances growth hit private consumption, as did rising inflation due to the Russia-Ukraine war pushing up food and energy prices. Rising commodity prices also caused the trade deficit to widen in Q1. More positively, the lifting of a flight ban in February boosted the tourism sector, while an easing Covid-19 wave further supported the services sector. Turning to Q2, activity is set to pick up. The economy continues to reopen from Covid-19 and recent rains have boosted the agricultural sector somewhat. That said, with much of the harvest already ruined, the agricultural sector will continue to drag on growth. High energy prices will continue to put pressure on consumers’ purchasing power and on the external and fiscal balances.

Morocco - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)1.8  0.6  3.6  3.0  3.5  

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Morocco Industry Chart


Morocco Industry
Note: Annual variation of industrial production in %.
Source: Higher Planning Commission of Morocco.

Morocco Facts

Value Change Date
Bond Yield3.020.0 %Dec 31
Exchange Rate9.56-0.29 %Dec 31

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