Positive growth in Morocco's extractive sector driven by phosphate production
In 2024, Morocco's extractive sector experienced a notable boost, thanks to the phosphate industry. The sector finished the year with a 21% growth in its production index, reversing the previous year’s decline of 5.3%, according to the Directorate of Studies and Financial Forecasts (DEPF), which is part of the Ministry of Economy and Finance.
This performance followed an impressive increase of 28.6% in the first quarter, 29% in the second, 22.4% in the third, and 9.2% in the fourth quarter of 2024, as detailed in DEPF's March 2025 report.
Additionally, phosphate rock production, a crucial component of the sector, strengthened by 24.5% over the first eleven months of 2024, compared to a 10.8% decline in the same period the previous year.
Meanwhile, the production of phosphate derivatives grew by 22% following a 3.7% decline in November 2023.
In January 2025, export revenues from phosphates and derivatives reached 5.6 billion dirhams (MAD), marking a 10.7% decrease after a significant rise of 17.9% the previous year. This decline was mainly due to a 36% drop in raw phosphate shipments and a 7.6% decrease in phosphate derivatives exports.
On a positive note, exports of other mineral extractions saw a 21.2% increase by the end of January 2025, after a 24.4% drop in the previous year.
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