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Morocco’s services sector anticipates 41% growth in Q3 2025
Business leaders in Morocco’s non-financial market services sector predict robust growth for the third quarter of 2025, with 41% expecting increased activity and 37% forecasting stable conditions, according to a report by the High Commission for Planning (HCP).
Promising growth across key industries
The optimism stems from strong performances in various sectors, including air transport, land transport and pipeline services, warehousing and auxiliary transport services, and rental and leasing activities. These areas are projected to drive much of the anticipated growth in the coming months.
The HCP’s quarterly survey on non-financial market services and wholesale trade reflects an overall positive outlook, although some industries face challenges. Accommodation and restaurant services, as well as postal and courier activities, are expected to see declines during the same period.
Stable demand and employment levels
Nearly half of surveyed business leaders (47%) foresee stable demand in Q3 2025, while 38% anticipate an increase. Employment trends also indicate stability, with 54% of executives predicting steady workforce levels and 26% anticipating improved hiring conditions.
Strong Q2 performance
The second quarter of 2025 achieved notable results, with 64% of business leaders reporting increased activity and a sector capacity utilization rate of 77%, signaling healthy operational efficiency. Key contributors to this growth included telecommunications, air transport, land transport and pipeline services, as well as warehousing and auxiliary transport services.
However, some sectors experienced declines during Q2, including advertising and market research, real estate activities, and water transport.
Order books remained mostly stable, with 69% of business leaders describing them as normal, while 24% reported below-normal levels. Employment growth was modest but positive, with 32% of executives noting workforce increases.
Outlook for sustained growth
Morocco’s services sector remains a cornerstone of the nation’s economy, with its continued growth driven by key industries and technological advancements. While some challenges persist, the sector’s resilience and adaptability bolster confidence for the remainder of 2025.