Kingdom
Forecast 4.2% growth in Q1 2026
It would be driven by agriculture and services, while construction would advance by 3.4% and manufacturing industry would remain moderate (+3.1%), held back by external demand, according to the HCP.
Morocco’s economic growth is expected to reach 4.2% in the first quarter of 2026, after 4% at the end of 2025, according to the HCP.
It would be driven by agriculture and services, while construction would advance by 3.4% and manufacturing industry would remain moderate (+3.1%), held back by external demand.
The international environment would remain difficult, with the slowdown in European demand and the impact of U.S. tariffs.
Chinese competition and new regulatory constraints would limit export growth to 3.9%.
Faced with these pressures, domestic demand would remain the main engine, supported by rainfall (+57%) and agricultural support measures.
Consumption would increase by 3.9% and investment would remain dynamic (+9.8%), driven by public infrastructure.
