Moroccan Economic Growth Slows to 4% in the Second Quarter

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The Moroccan economy recorded a growth rate of 4% during the second quarter of 2026, compared to 5.8% during the same period in 2025, according to the national accounts results issued by the High Commission for Planning, amid a slowdown in non-agricultural activities and a noticeable acceleration in agricultural activity.

The Commission reported that the value added of non-agricultural activities increased by only 1.5%, compared to 4.9% a year earlier, affected by a decline in extractive industries by 28.6% and manufacturing by 3.2%, while the agricultural sector recorded a strong increase of 21.2% compared to 8.3% during the second quarter of last year.

Domestic demand maintained its role in supporting economic activity, recording a growth rate of 5%, with household consumption rising by 4.1% and total investment by 6.8%; while external trade in goods and services recorded a negative contribution to growth of 1.6 points, according to the Moroccan website "Hespress."

In contrast, the general price level slowed to 0.4%, compared to 1.7% a year earlier; while the Moroccan economy's financing needs rose to 5% of the gross domestic product, compared to 2.4% during the same period in 2025.