The Moroccan economy should grow in the second quarter of 2025 thanks to the resumption of agriculture and the solidity of market services in the second quarter of 2025 (HCP), which is supported by an ever dynamic domestic demand.
Despite a less favorable international environment, the manufacturing industry would benefit from the dynamics of food and career eminals, while the construction would remain well-oriented that is carried by public work.
Consumption and investments would continue to increase in a context of favorable economic policy at continuing speed (+4.2 % or +5.1 %). Foreign trade would continue to weigh growth, but less strongly than at the end of 2024.
In addition, the HCP warns that this trajectory remains uncertain due to the risks associated with American tariff policy. The temporary shift in customs rights (without China) could reduce short -term effects, but expected effects are already visible in global markets, raw materials and industrial activities, especially in Europe.
