Morocco's economic growth has slowed down to 1% in the second quarter of 2026, compared to 5.8% in the same period last year. According to the High Commission for Planning, this slowdown is attributed to a decline in non-agricultural activities. Despite a significant increase in the agriculture sector's value-added, the overall growth rate has decreased. The agriculture sector's value-added increased by 21.2% in the second quarter of 2026.
The primary sector, which includes agriculture and fishing, recorded a significant increase in its value-added of 20.9% in the second quarter of 2026. This is due to a 21.2% increase in agricultural activities and a 15.9% increase in fishing activities. However, the secondary sector, which includes industry, mining, and construction, recorded a decline in its value-added of 3.9% in the second quarter of 2026.
The decline in the secondary sector is attributed to a 28.6% decline in mining activities and a 3.2% decline in manufacturing activities. Additionally, construction and public works activities slowed down to 2.8%, and electricity and water activities slowed down to 1.9%. The tertiary sector, which includes trade and services, recorded a slowdown in its growth rate from 4.5% in the same period last year to 4% in the second quarter of 2026.
The slowdown in economic growth is also attributed to a decline in domestic demand. Despite the strong performance of the agriculture sector, the overall growth rate has decreased due to the decline in non-agricultural activities. The High Commission for Planning's report highlights the need for diversification of the economy to reduce dependence on the agriculture sector.
In other news, the Moroccan airport sector has recorded a significant increase in passenger traffic. According to the Airports Authority, the number of passengers passing through Moroccan airports reached 22.3 million in the first seven months of 2026, an increase of 8.8% compared to the same period last year.
The pharmaceutical sector is also facing challenges. The Moroccan pharmacists' association, "Im Farma", has warned that the opening of the pharmacy sector to investment could lead to the bankruptcy of thousands of pharmacies. The association is calling for a new economic model that does not rely solely on the profit margin of medicines.
In a separate development, the Moroccan government has banned the collection and marketing of shellfish in a region north of Agadir due to the presence of toxic marine substances. The ban will remain in place until the marine environment is cleaned up and health indicators are restored.
Key points
- Morocco's economic growth slowed down to 1% in the second quarter of 2026 despite a significant increase in the agriculture sector's value-added.
- The slowdown in economic growth is attributed to a decline in non-agricultural activities.
- The Moroccan government has taken measures to address challenges in various sectors, including the pharmaceutical and airport sectors.
