Moroccan industrial companies reported a broadly stable business environment in the third quarter of 2025, with 77 percent describing conditions as normal and 15 percent citing difficulties, according to Bank Al Maghrib’s quarterly business survey.
The assessment was consistent across most branches except mechanics and metallurgy, where 36 percent of firms viewed conditions as favorable.
Supply conditions were also judged normal by 82 percent of respondents, though 15 percent reported constraints. The chemistry and para-chemistry segment showed the highest pressure, with 30 percent indicating difficult supply. Employment levels remained largely unchanged across the sector, with 83 percent of food-industry companies reporting stability and 15 percent noting an increase. In mechanics and metallurgy, 91 percent cited stagnation, while 9 percent reported a decline. Similar patterns were observed in textiles and leather, as well as in chemicals.
Production costs were stable for 58 percent of firms, while 30 percent reported increases, particularly in chemicals and para-chemicals, where 51 percent cited higher costs. In contrast, 48 percent of companies in mechanics and metallurgy reported a decline in cost pressures.
Treasury positions were considered normal by 82 percent of firms, though 14 percent described financial conditions as difficult, mainly in mechanics and metallurgy, chemicals, and textiles. Most companies expect employment to remain stable over the coming three months.
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