The High Commission for Planning (HCP) has released its economic report for the first quarter of 2024, presenting ten key points on Morocco’s national economic situation:
- Economic growth: National economic growth stood at 2.5%, driven by domestic demand, achieved in a context of controlled inflation and improved national financing capacity.
- Primary sector value added: The primary sector’s value added decreased by 4.3%, due to a significant 5% decline in agricultural value added, despite a 10% increase in fishing value added.
- Secondary sector value added: The secondary sector saw a 3.6% increase in value added.
- Tertiary sector value added: The tertiary sector experienced a slowdown in its growth rate, which settled at 3%.
- GDP at current prices: GDP at current prices rose by 3.8%, reflecting a 1.3% increase in the general price level.
- Domestic demand: Domestic demand grew by 3.6%, contributing positively to national economic growth by 3.7 percentage points.
- Gross investment: Gross investment (gross fixed capital formation, stock variations, and net acquisition of valuables) represented 23.7% of GDP.
- Imports and exports: Imports of goods and services increased by 9.5%, negatively impacting growth by 4.1 percentage points.
- National savings: National savings accounted for 24.3% of GDP, considering a 4.5% increase in final national consumption in value.
- Financing capacity: A financing capacity of 0.6% of GDP was recorded in the first quarter of 2024.
