Morocco's Economy Surges 15.2% in Q2, Led by Agriculture and Industry Growth
The Moroccan economy continues its recovery that has already begun in recent months. In the second half of this year, growth reached 15.2%. A considerable leap compared to the same period in 2020 according to HCP.
This Moroccan growth is attributable to the strong recovery of all sectors of activity in the Kingdom, says the HCP in a note published on Thursday, September 30.
In detail, the value added in volume of the primary sector increased by 21.8% in the second quarter of 2021. This development is due to the increase in agricultural activity of 18.6% and that of fishing of 57.9%.
As for the secondary sector, there was an increase of 19.5%. The rebound in the secondary sector is attributable, in particular, to the good momentum of the manufacturing industries and construction, which show increases of 20.8% and 21.9% respectively.
As for the tertiary sector, the value added increased by 11.6%. According to the HCP, the activity of hotels and restaurants increased by 82.1% in the second half of 2021. Normal, since the sector was practically at a standstill last year.
In addition, the institution chaired by Ahmed Lahlimi Alami indicates that the second quarter of 2021 was marked by a slowdown of 2.9% in the activities of services provided by the general public administration and social security. The education, health and social action services contracted by 1.9% instead of 2.7% in 2020.
At current prices, GDP increased by 16.8% during the second quarter of 2021, the note points out. "The rise in the general price level was 1.6% instead of a 0.4% drop a year earlier," it adds.
