The results of the national accounts for the fourth quarter of 2022 revealed that the growth of the Moroccan economy recorded a significant slowdown of 0.5 percent, instead of 7.6 percent during the same quarter of the previous year.
The High Commission for Planning said that external demand formed a locomotive for economic growth in a context characterized by a high rate of inflation and an improvement in the need to finance the national economy, noting that non-agricultural activities recorded an increase of 2.3 percent, while agricultural activities witnessed a decrease of 15.1 percent. .
The delegate stated that the added value of the primary sector shrank in size, corrected for seasonal changes, by 15 percent in the fourth quarter of 2022, after an increase of 19.1 percent during the same quarter of the previous year. This decrease is due to a strong decline in the values added of the agricultural sector by 15.1 percent and by fishing by 12.3 percent.
For its part, the added value of the secondary sector, in terms of volume, experienced a decline of 2.4 percent during the fourth quarter of 2022, as a result of the decrease in the added values of “extractive industries” by 16 percent, and “construction and public works” by 4.6 percent. “Electricity, gas, water, purification networks and waste treatment” increased by 4.5 percent, in addition to the increase in the activities of “manufacturing industries” by 0.4 percent.
Moreover, the value added of the tertiary sector experienced a slowdown in its growth rate, going from 6.9 percent in the same quarter last year to 4.9 percent. It was characterized by a decline in “transport and storage” activities to 7.1 percent, “financial and insurance activities” to 5.5 percent, “education, health and social work services” to 3.1 percent, and “services provided by administrations.” General Public and Social Security” to 3 percent, “research and development and contracting services” to 2 percent, “real estate services” to 1.6 percent, and “trade and vehicle repair” to 1.1 percent.
The development of the added value of the third sector also covers the increase in the activities of “hotels and restaurants” by 55.4 percent, and “other services” by 2.4 percent.
At current prices, the gross domestic product increased by 5.8 percent, which resulted in an increase in the general level of prices by 5.3 percent during the fourth quarter of 2022, compared to 4.9 percent during the same quarter of 2021.
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