FX.co ★ Morocco Factory Activity Gains Steam in Q4

Manufacturing output in Morocco increased by 4% year-on-year in Q4 2025, accelerating from a 2.2% rise in the previous quarter. This expansion was driven primarily by strong gains in food (+9.9%), pharmaceuticals (+28.9%), metal products (+14.5%), non-metallic mineral products (+4.8%), other transport equipment (+37.1%), and tobacco products (+4.7%).

In contrast, production declined in several key segments, including automotive (-6.2%), clothing (-4.7%), electronics (-12.6%), electrical equipment (-2.3%), and other manufacturing (-15.4%).

The extractive industries index fell by 4.4%, reflecting a 4.6% contraction in miscellaneous extractive activities, partly offset by a modest 0.7% increase in metallic ores. Meanwhile, electricity generation grew by 2.8%.

Over the whole of 2025, manufacturing activity expanded by 4.1%.