Morocco’s industrial, energy and mining production started 2026 on the back foot, with official data pointing to a broad-based decline across the country’s main productive sectors.
According to figures from the High Commission for Planning (HCP), the index of manufacturing industries excluding oil refining contracted by 1.4 percent in the first quarter of 2026 compared with the same period a year earlier.
The headline decline masks significant divergences between branches. Among the worst-performing subsectors, electrical equipment manufacturing recorded the sharpest contraction at 11.3 percent, followed by printing and reproduction at minus 10.6 percent and metallurgy at minus 8.9 percent. Other non-metallic mineral products slipped 8.6 percent, the clothing industry contracted 8.1 percent, and food industries — historically a heavyweight in Morocco’s productive fabric — eased by 3.5 percent.
The picture is not uniformly bleak, however. Several subsectors sustained meaningful growth, underscoring the continuing vitality of Morocco’s higher-value industrial segments. The manufacture of other transport equipment surged 28.2 percent, while repair and installation of machinery advanced 14.7 percent and production of computer, electronic and optical products rose 7.1 percent. The automotive and pharmaceutical sectors each recorded gains of 4.5 percent, reaffirming their role as stabilizing forces within a more fragile manufacturing environment.
The slowdown extended beyond manufacturing. The extractive industries index fell 1.9 percent, driven by a 2 percent decline in miscellaneous extractive products, while the electricity production and distribution index contracted 3.7 percent year-on-year — retreating from a high of 158.8 in the third quarter of 2025 to 131.6 in the first quarter of 2026.
The first quarter results suggest that Morocco’s industrial sector is navigating a period of adjustment, with demand pressures, production costs and cyclical factors weighing on several traditional branches. Whether the dip proves transitory or signals a more sustained deceleration will become clearer as the year progresses.
