Rabat \u2013 Morocco\u2019s economy expanded by 4.6% in the first quarter of 2026, slightly slower than the 5% growth recorded during the same period last year, according to new data from the High Commission for Planning (HCP).<\/p>\n
The HCP said<\/a> the economy maintained a \u201csolid growth pace\u201d despite weaker performance in industrial activities, thanks to a strong recovery in agriculture and continued growth in domestic demand.<\/p>\n Agriculture was the strongest-performing sector during the quarter. Agricultural value added rose by 18.4%, compared with 8.1% a year earlier, largely offsetting slower growth in non-agricultural sectors. Fishing, however, declined by 1.9%.<\/p>\n In contrast, the non-agricultural economy slowed, growing by 2.6% compared to 4% in the first quarter of 2025. The industrial sector contracted by 1%, reversing the 2.9% growth recorded a year earlier.<\/p>\n The report attributed the decline to lower output in electricity and water services, extractive industries, and manufacturing, while construction continued to grow but at a much slower pace than last year.<\/p>\n The services sector also lost some momentum, although it continued to expand by 4.3%.<\/p>\n Financial and insurance services recorded one of the strongest performances, growing by 7.6%, while transport and storage increased by 4.8%. Hotels and restaurants remained among the fastest-growing activities with 8.1% growth, though this was slightly below last year\u2019s pace.\u00a0<\/p>\n Household spending drives growth<\/p>\n