Morocco’s Economy Surges 15.2% in Q2, Led by Agriculture and Industry Growth

This Moroccan growth is attributable to the strong recovery of all sectors of activity in the Kingdom, says the HCP in a note published on Thursday, September 30.

In detail, the value added in volume of the primary sector increased by 21.8% in the second quarter of 2021. This development is due to the increase in agricultural activity of 18.6% and that of fishing of 57.9%.

As for the secondary sector, there was an increase of 19.5%. The rebound in the secondary sector is attributable, in particular, to the good momentum of the manufacturing industries and construction, which show increases of 20.8% and 21.9% respectively.

As for the tertiary sector, the value added increased by 11.6%. According to the HCP, the activity of hotels and restaurants increased by 82.1% in the second half of 2021. Normal, since the sector was practically at a standstill last year.

In addition, the institution chaired by Ahmed Lahlimi Alami indicates that the second quarter of 2021 was marked by a slowdown of 2.9% in the activities of services provided by the general public administration and social security. The education, health and social action services contracted by 1.9% instead of 2.7% in 2020.

At current prices, GDP increased by 16.8% during the second quarter of 2021, the note points out. "The rise in the general price level was 1.6% instead of a 0.4% drop a year earlier," it adds.