Morocco’s economic growth slowed to 4 percent in the third quarter of 2025, down from 5 percent over the same period in 2024, according to national accounts data released by the High Commission for Planning.
In a note on the country’s economic situation, the planning body said domestic demand remained the main driver of growth, in a context marked by easing inflation but rising financing needs for the national economy.
Non agricultural activities recorded a clear slowdown, expanding by 3.8 percent compared with 5.7 percent a year earlier. By contrast, agricultural activity rebounded, posting growth of 4.7 percent after contracting by 5.1 percent in the third quarter of 2024.
The value added of the primary sector rose by 2.6 percent in volume terms, reversing a 4.2 percent decline a year earlier. This improvement was driven by a 4.4 percent increase in agricultural value added, while fisheries activity fell sharply by 24.4 percent after strong growth the previous year.
Growth in the secondary sector also eased significantly, with value added rising by 3.8 percent, down from 6.9 percent in the third quarter of 2024. This reflected slower expansion in construction and public works, extractive industries and manufacturing, despite stronger performance in electricity, gas, water, sanitation and waste treatment.
The tertiary sector followed a similar trend, with growth slowing to 4.2 percent from 5 percent a year earlier.
Hotels and restaurants, transport and storage, trade, financial services, education and health all recorded weaker growth, while public administration services and real estate showed modest improvement.
As a result, non agricultural value added growth fell from 5.7 percent to 3.8 percent year on year.
Taking into account a slower rise in net taxes on products, gross domestic product adjusted for seasonal variations grew by 4 percent in real terms. In nominal terms, GDP increased by 5.7 percent, compared with 8.7 percent a year earlier, reflecting a further easing of inflation to 1.7 percent in the third quarter of 2025.
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