Growth Highlights of the Moroccan Economy in 2024
The Moroccan economy has seen a promising growth rate of 4.4% in 2024, elevating the country’s Gross Domestic Product (GDP) in volume to 1,550.45 billion dirhams (MMDH), as reported by the High Commission for Planning (HCP), which recently released the regional accounts for the year. In nominal terms, without adjusting for inflation, the GDP reached 1,614.57 MMDH, marking an increase of 8.7% compared to 2023.
This national average conceals a varied regional dynamic: on one hand, the southern regions are experiencing the most significant growth, while the historical economic hubs—Casablanca-Settat, Rabat-Salé-Kénitra, and Tangier-Tétouan-Al Hoceïma—continue to dominate the majority of wealth generation.
In 2024, eight regions of Morocco recorded GDP growth rates exceeding the national average. Laâyoune-Saguia al Hamra leads with a rate of 7.6%, driven by non-market services and maritime fishing. Following closely is Dakhla-Oued Ed Dahab, which achieved a growth rate of 7%, supported by maritime fishing and construction. Souss-Massa reported a growth of 6.8%, buoyed by robust agricultural performance and services, while Drâa-Tafilalet saw a 6.2% increase, benefiting from a strong construction sector. The Oriental region recorded a growth of 5.9% as industrial activities and services rebounded after a contraction in 2023. Marrakech-Safi achieved a growth rate of 5.1%, attributed to the rise of hospitality and restaurant services.
Conversely, four regions fell below the national average in terms of growth. Casablanca-Settat, which is propelled by the manufacturing and financial services sectors, grew by 4.3%. It was followed by Rabat-Salé-Kénitra at 3.5%, benefiting from stable public and administrative service activities, Béni Mellal-Khénifra at 2.1%, recovering from a contraction in 2023, and Fès-Meknès, which saw a mere 1.6% growth, significantly down from 8.8% in the previous year, largely due to a decline in agricultural growth.
Economic Concentration and Regional Disparities
According to the HCP's data, the distribution of national wealth highlights a significant geographical concentration. The three regions—Casablanca-Settat, Rabat-Salé-Kénitra, and Tangier-Tétouan-Al Hoceïma—accounted for 58.4% of the national GDP in 2024, a reflection of their levels of industrialization, commerce, and services, as well as the presence of key infrastructure. Casablanca-Settat alone constitutes 32.3% of the national GDP, making up nearly one-third of the wealth generated in the Kingdom, while Rabat-Salé-Kénitra contributes 15.5% and Tangier-Tétouan-Al Hoceïma 10.7%.
A second group of five regions collectively contributed 33.8% to the national GDP, including Marrakech-Safi (8.7%), Fès-Meknès (8.2%), Souss-Massa (6.6%), Béni Mellal-Khénifra (5.3%), and the Oriental (5.1%). At the lower end of the scale, Drâa-Tafilalet and the three southern regions—Guelmim-Oued Noun, Laâyoune-Saguia al Hamra, and Dakhla-Oued Ed Dahab—accounted for just 7.8% of the GDP creation, with Drâa-Tafilalet contributing 3% and the three Sahara regions collectively contributing 4.8%.
The disparities in contributions have slightly widened year-on-year. The average absolute gap, which measures the average deviations between each region's GDP and the regional average, increased from 83.6 MMDH in 2023 to 90.9 MMDH in 2024, indicating a slight deepening of regional disparities in wealth creation.
As reported by fr.le360.ma.
