Morocco’s industrial sector saw a slight dip in producer prices this February, signaling a mixed economic landscape beneath the surface. According to the latest report from the High Commission for Planning, the country’s producer price index for manufacturing industries—excluding petroleum refining—fell by 0.1% compared to January. Though minimal, the decline reflects diverging trends within key areas of Morocco’s industrial base.
The overall drop was largely driven by falling prices in a few strategic sectors. Food manufacturing saw a 1% decrease, pointing to weaker pricing in a context where consumer demand appears to be cautious. The metallurgy industry experienced an even sharper decline of 1.6%, while the wood processing sector—including the production of wood and cork goods—slipped by 0.7%. These drops suggest ongoing cost adjustments and market recalibrations, as certain industries navigate tighter margins and shifting demand.
On the flip side, a few sectors posted notable gains. The production of electrical equipment jumped by 1.9%, likely reflecting renewed investment in electrification and infrastructure projects. Paper and cardboard manufacturing also saw a solid 1.6% rise, followed by a 0.9% increase in beverage production—possibly in anticipation of the upcoming peak season. Smaller gains were observed in furniture manufacturing (+0.2%) and in the rubber and plastic products segment (+0.1%), hinting at pockets of growth and resilience in more specialized markets.
Meanwhile, the energy and extraction sectors showed no movement at all. Prices remained flat in electricity and water supply, as well as in mining and quarrying. This stability is typical for industries often governed by fixed pricing models or slower-moving market conditions.
As overall inflation appears to be easing, the road ahead for Moroccan industry remains uncertain. Sectoral imbalances persist, and while some branches are showing encouraging signs, others are under clear pressure. The months to come will test how well these industries can adapt in an environment marked by both opportunity and constraint.
