Morocco’s Economic Growth Slows to 2.9% in Q4 2018, HCP Reports

It stood at 2.9% in the last quarter of 2018, while it had reached 4.4% in 2017, a difference of 1.5 points, according to this note released on Monday by the HCP.

In detail, the primary sector recorded a growth of 2% in the 4th quarter, while it had recorded a jump of 10.9% a year earlier. The HCP explains this by an increase in the added value (VA) of agricultural activity of 3.5% in Q4 2018, compared to 13.6% in 2017. The added value of the fishing sector was established at 15.7% against 16.9% the previous year.

The secondary sector also experienced a slowdown with growth of 3.2% in the 4th quarter of 2018 against 4.6% during 2017. The HCP attributes this to a slowdown in several sectors, including construction and the extractive industry.

Only the tertiary sector shows better performance compared to 2017. Thus, growth of 3.1% was recorded in the fourth quarter of last year against 2.9% in the last quarter of 2017. All sectors are in the green, such as trade-related activities, financial services, and posts and telecommunications.