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Morocco’s economic growth slowed slightly to 4.1% in the fourth quarter of 2025, compared to 4.2% during the same period in 2024, according to the High Commission for Planning (HCP).
Non-agricultural activities recorded a slowdown, growing by 4% instead of 4.8%, while the agricultural sector rebounded with growth of 4.7%, following a decline of 4.8% a year earlier, the HCP said in a report on the national economic situation in Q4 2025.
Growth was primarily driven by domestic demand, in a context marked by controlled inflation and rising financing needs for the national economy.
In detail, the secondary sector posted a slight slowdown, with output increasing by 3.5% in volume terms, seasonally adjusted. This was mainly due to a decline in mining activity (-3.4%), as well as slower growth in construction and public works (+4.9% after +6.9%), and in electricity and water supply (+2.7% after +7%).
In contrast, manufacturing industries showed improvement, with growth accelerating from 2.4% to 4.1%.
The tertiary sector also experienced a slowdown, with growth easing to 4.4%, compared to 5.4% in the same quarter of 2024.
This trend reflects slower expansion in financial and insurance services (6.6%), education, health and social services (6.5%), accommodation and food services (4.8%), transport and storage (4.3%), research and development and business services (3.3%), as well as trade and vehicle repair (3.1%).
As a result, value added in non-agricultural sectors slowed to 4% in Q4 2025, down from 4.8% a year earlier.
Meanwhile, the primary sector showed a marked recovery, growing by 3.9% compared to a contraction of 4.7% in the same period of 2024. This improvement was driven by a rebound in agriculture (+4.7% after -4.8%), although partially offset by a sharper decline in fishing activity (-13.6% after -1.9%).
At current prices, GDP rose by 6.8% in Q4 2025, compared to 9.1% a year earlier, reflecting a slowdown in overall price levels to 2.7%, down from 4.9% in the same quarter of the previous year.
