Morocco’s economy grew an estimated 4.8% year-on-year in the second quarter of 2026, accelerating from 4.6% in the previous quarter as strong agricultural output, resilient services and robust domestic demand offset the impact of global trade disruptions, the High Commission for Planning (HCP) said.
In its latest economic outlook, the HCP said the prolonged conflict involving Iran disrupted global supply chains and increased maritime transport costs during the quarter, weighing on the external environment. Despite those headwinds, Morocco maintained solid growth driven primarily by domestic activity.
Agriculture remained the main growth engine, with value added rising 20.5% from a year earlier, supported by improved climatic conditions. The services sector expanded 4.3%, buoyed by tourism and trade, while construction returned to growth after two weak quarters.
Manufacturing activity, however, was broadly flat, growing just 0.3% as weaker external demand weighed on the textile, chemical and electrical industries. The HCP said stronger performance in agribusiness and the automotive sector partly offset those declines.
Household consumption strengthened by 4.7%, supported by higher rural incomes, stronger consumer lending and a recovery in Eid al-Adha spending compared with the same period last year. Gross fixed capital formation rose 9.4%, although investment by private companies slowed slightly as higher production costs squeezed profit margins. Public infrastructure spending remained strong.
Looking ahead, the HCP expects growth to accelerate further to 5.4% in the third quarter of 2026, reflecting continued momentum in domestic demand and sustained support from agriculture, provided external conditions do not deteriorate further.
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