According to the High Commission for Planning (HCP), Morocco's economic growth reached 3.8% in 2024, slightly up from 3.7% the previous year. The HCP noted in its 2024 report that this growth, driven primarily by domestic demand, was achieved despite a high inflation environment and significant financing needs in the national economy. Non-agricultural activities grew strongly, with volume rising by 4.5%, while agricultural activities declined by 4.8%, according to the same source. In volume terms, the primary sector's value added fell by 4.5%, mainly due to a downturn in agriculture and a notable slowdown in fishing, where the growth rate dropped from 6.9% to 2.6%. Conversely, the secondary sector saw a significant increase in value added, rising from 0.8% in 2023 to 4.2% in 2024. This improvement was driven by growth in the extraction industry (13%), construction and public works (5%), manufacturing (3.3%), and electricity, gas, water, sanitation, and waste management (2.6%). Meanwhile, growth in the service sector slowed slightly, with its value added increasing by 4.6% in 2024, down from 5% in 2023. At current prices, GDP grew by 7.9% in 2024, accompanied by a general price level increase of 4.1%.
