Morocco’s economy expanded by 4.9% in 2025, up from 4.4% a year earlier, driven by a strong recovery in agriculture and sustained domestic demand, according to national accounts data released by the High Commission for Planning (HCP).
The rebound was largely fueled by the agricultural sector, whose value added rose 8.2% after contracting 5.7% in 2024. As a result, the broader primary sector grew 7.1%, offsetting a sharp 13% decline in fishing activities.
Non agricultural sectors recorded growth of 3.9%, while expansion in the secondary sector slowed to 3.3% from 3.8% a year earlier. Construction and public works emerged as a bright spot, accelerating to 6.7%, reflecting continued infrastructure spending and private investment. Growth in extractive industries eased to 7.5%, while manufacturing slowed to 1.9%.
Services growth also moderated, rising 4.3% compared with 5.6% in 2024. Transport, storage, financial services, hospitality and insurance activities all expanded at a slower pace, while the information and communications sector contracted 0.5%.
Domestic demand remained the principal engine of growth despite slowing to 6.1% from 6.7% the previous year. Investment was particularly strong, increasing 16.3% and contributing five percentage points to overall economic growth, underscoring continued confidence in the economy.
External trade remained a drag on growth, although less pronounced than in 2024. Imports rose 9%, outpacing export growth of 6.6%, resulting in a negative contribution of 1.7 percentage points from foreign trade, compared with 2.9 points a year earlier.
In nominal terms, gross domestic product increased 6.5%, while the implicit GDP deflator, a broad measure of inflation, stood at 1.6%.
The data also showed that Morocco’s national savings rate improved to 31.1% of GDP. However, the economy’s financing needs widened to 2.4% of GDP from 1.2% in 2024, reflecting a surge in investment, which reached 33.6% of national output.
The figures point to an economy increasingly supported by investment and a recovery in agriculture, while highlighting continued reliance on domestic demand as the main driver of growth.
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