Morocco's national economy grew by 2.3 percent in the second quarter of 2023, compared with 2.2 percent in the same quarter of 2022.
Driven by external demand, this growth was achieved against a backdrop of high inflation and an improvement in the national economy's financing capacity.
According to the Higher Planning Commission (HCP), the country's leading statistics institution, non-agricultural activities recorded a 2.1 percent volume increase, compared to a rise in agricultural activities by 6.3 percent.
Meanwhile, the added value of the primary sector increased in terms of volume, recording an increase of 6 percent during the second quarter of 2023.
It was due to an increase in agricultural sector activities by 6.3 percent, paired with a slower 0.5 percent growth in fishing.
Furthermore, the added value of the secondary sector recorded a 2.8 percent drop compared to 1 percent during the second quarter of last year.
The decrease is due to a decline in the added values of each extraction industry by 9.4 percent compared to a 7.5 percent decrease.
Public works and construction increased by 2.8 percent instead of a 1.8 percent decrease. Manufacturing industries saw a 2.1 percent rise compared to a 1.8 percent increase.
Electricity and water activities increased by 1.4 percent compared to a 1.5 decrease during the same period.
At the same time, the added value in the tertiary sector slowed to 4.4 percent, marked by a rise in real estate services and a slowdown in accommodation and catering.
Services such as the transport and warehousing sectors slowed by 5.3 percent, while education, health, and social services dropped by 5.1 percent.
General public administration and social security services also fell by 4.8 percent.
Other services experienced a slowdown, including research and development and business services, information and communication, financial services and insurance, and trade and repair of vehicles.
In the first quarter of 2023, the Moroccan economy recorded a rise of 3.5 percent.
