Morocco GDP to grow by 4.7 per cent during third quarter of 2015

Morocco’s GDP is expected to grow by 4.7 per cent during the third quarter of 2015, the country’s planning agency said on Tuesday.

The agency said in a statement that “the agricultural sector will record a growth of almost 16.4 per cent during the third quarter of this year, which will contribute to reducing the size of agricultural imports during the year, especially grains whose price is expected to drop after rising during last year.”

According to the statement, non-farming activities are expected to grow by nearly 2.1 per cent during the third quarter of this year.

The agency expected non-agricultural sectors to continue to grow during the third quarter of 2015, while oil prices will decrease as the international climate improves, especially in the euro area.

Morocco depends heavily on the agriculture sector, which according to Ministry of Agriculture provides about 4 million jobs and contributes to 14 per cent of GDP.

Agricultural products account for about 15 to 20 per cent of total Moroccan foreign exports.