Growth Morocco economy grew by 4% year-on-year in the third quarter of 2025, down from 5% in the same period of 2024, according to the latest data from the High Commission for Planning (HCP) released on December 31, 2025. Strong domestic demand continued to propel activity, offsetting a negative contribution from external trade and moderating non-agricultural sectors.
Domestic Demand Fuels Growth Amid External Drag
Domestic demand expanded robustly by 7.6%, contributing 8.3 percentage points to overall GDP .Household spending and investment benefited from easing inflation down to 1.7% and a rebound in agricultural activity. In contrast, net external demand subtracted 4.3 points due to imports surging 15.3% outpacing export growth of 8.2%.
This Q3 slowdown aligns with earlier HCP projections of around 4.3-4.4% growth, highlighting resilience despite global headwinds. The rebound in farming supported by better rainfall offers optimism, while persistent trade imbalances underscore reliance on domestic drivers.
