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Moroccan Economy Grew by 4.6% in 2023, Agriculture Up 18.4%, Industry Declined 1%
The national economy experienced a growth rate of 4.6% during the first quarter of 2026, supported by a strong rebound in the agricultural sector and continued expansion of service activities, despite a decline in secondary activities and a widening trade deficit. Agriculture contributed 1.9 percentage points to the growth, thanks to favorable rainfall. Emerging industries such as automotive and aerospace sectors grew by 5.9%, driven by external demand. However, secondary activities contracted by 1% due to rising production costs and the weak performance of sectors like extractive and chemical industries. Domestic demand increased by 6.9 percentage points, with household consumption expenditures rising by 4.6%. Although exports rose by 9.2%, imports continued to grow rapidly at 12.7%, leading to an expansion of the trade deficit. The budget deficit also widened due to higher subsidy expenses and increased public investment, while the financing requirement remained at 1.5% of GDP for the quarter.
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