The Moroccan economy grew by 4.8% in the first quarter of 2025, compared to 3% in the same period last year

 

Moroccan economy grows 4.8% in first quarter, boosted by agriculture and industry

The Moroccan economy grew by 4.8% in the first quarter of 2025, compared to 3% in the same period last year, according to the High Commission for Planning (HCP) announced on Monday.

The HCP said the performance was driven by an improvement in agricultural activities, which grew by 4.6%, along with a 4.5% growth in the industrial sector, which helped push GDP to higher levels.

Domestic Demand Offsets Impact of Foreign Trade

Data indicated that domestic demand rose by 8% in the first three months of the year, compared to 4% in the same quarter last year, offsetting the negative impact of the trade balance on overall growth.

Moderate Growth Expected for the Rest of the Year

Bank Al-Maghrib kept its key interest rate at 2.25% last week and forecast economic growth of 4.6% in 2025, before declining to 4.4% in 2026, supported by inflation falling to around 1%. For its part, the International Monetary Fund expects lower growth of 3.9 percent this year, warning that the ongoing drought could negatively impact agriculture, which remains a key sector of the Moroccan economy.