Morocco’s manufacturing sector sees 5% growth in late 2024

Morocco’s manufacturing industry, excluding petroleum refining, experienced a 5% growth in production during the final quarter of 2024 compared to the same period in 2023. This growth reflects the resilience and diversification of the country’s industrial base, driven by key sectors that performed exceptionally well.

Strong performance across key industries

The High Commission for Planning (HCP) attributed this growth to notable increases in several industries. Production of non-metallic mineral products surged by 12.5%, the chemical sector expanded by 6.6%, and computer, electronic, and optical products saw a remarkable 25.7% increase.

Other industries also contributed to the overall growth. Tobacco product manufacturing rose by 5.6%, food industries recorded a 2.4% gain, and pharmaceutical production advanced by 7.6%, underscoring a broad-based industrial expansion.

Sectors facing decline

Despite the overall positive trajectory, some industries faced significant challenges. Transport equipment manufacturing dropped sharply by 14.5%, while the apparel sector declined by 2.9%. Leather and footwear production fell by 7.3%, and textiles registered a 2.3% decline. These setbacks highlight ongoing difficulties in certain traditional industries.

Extractive industries and energy production on the rise

Morocco’s extractive industries also recorded solid growth, with overall production rising by 9.2% during the same period. This increase was driven by a 9.5% boost in various extractive products and a slight 0.2% uptick in metallic mineral extraction.

Electricity production also followed an upward trend, increasing by 6%, a reflection of the country’s growing energy demands and infrastructure development.

Annual growth highlights steady progress

Throughout 2024, Morocco’s industrial output demonstrated steady progress. Extractive industries grew by an impressive 21%, manufacturing (excluding petroleum refining) expanded by 5.4%, and electricity generation rose by 1.5% compared to 2023. These figures underline the country’s ongoing efforts to strengthen its industrial and energy sectors.

A dynamic and forward-looking economy

With a diverse industrial base and a growing emphasis on technology and high-value sectors, Morocco continues to assert itself as a key player in regional manufacturing. While challenges persist in some industries, the country’s steady expansion signals an economy that remains dynamic, resilient, and forward-looking.