Morocco GDP Growth Remains Solid in Q4

Morocco's GDP expanded by 3.7% year-on-year in Q4 2024, following a 4.3% rise in the previous three-month period, which was the fastest growth since Q4 2021.

Household consumption grew by 4.1%, government spending rose by 4.8%, and fixed investment surged by 15.3%.

Meanwhile, net external demand contributed negatively to the GDP growth, as exports rose 9.2% and imports advanced 15.6%.

On the production side, non-agricultural activities rose by 4.4%, with industrial production up 4.9%, fueled by growth in the extraction industry (6.5%), manufacturing (3.7%), construction (7%), and utilities (5.7%).

Services increased by 4.2%, primarily driven by tourism, with hotels and restaurants rising by 12.8%.

On the other hand, the agricultural sector contracted by 4.9%.