Mining, services main drivers of the Moroccan economy in 2014 HCP
Rabat - Mining and services were the main contributors to Morocco's economic growth in 2014, Morocco's statistics office, the High Commission for Planning (HCP) said.
Source : https://www.emouaten.com/english/Mining-services-m...
The growth of secondary economic activities was boosted by a growth in the mining industry which accumulated 0.5 points in 2014 compared to -0.3 points in 2013, the HCP said in its January 2015 report. Mining activities followed a rising trend posting a 15.5% year-on-year increase by the fourth quarter of 2014. Throughout the whole year 2014, mining activities remained steady posting an annual growth of 12.3% compared to 2013.
The growth of non-refinery industries stood at 2% during the fourth quarter of 2014 down from 3% in the third quarter. A similar growth was registered by Agri-food industries which improved 3.8% year-on-year during the fourth quarter.
During the same period, the added value of non-agricultural activities increased by 3.5% year-on-year against 2% a year earlier.
Communication, transport and commercial activities benefited from the dynamism of the tertiary sector posting a comprehensive economic growth of 1.7 points. In a context marked by a shrink in tourism sector revenues, hotels and restaurants saw profits reduced by 1.3%.
Construction and public works posted a slight increase of 0.8% during the same period while sales of cement declined by 6%.
Concerning the agricultural sector, the shrink in the added value was estimated at 1.5% in the fourth quarter compared to the same period the previous year.
The 2013/2014 crop year was affected by a rainfall deficit of 27% in comparison to a normal season, recalled the HCP, noting that this impacted the crop yields.
Agricultural output in irrigated areas rose leading to a 7.8% drop in vegetables' prices and a similar slump of 6.6 in fruit prices during the 11 months of 2014.
Red meat production increased by 3.1% in comparison to 2013 despite an increase in animal feed.
Considering the figures available by November 2014 as well as sector-based forecasts, the HCP estimated the growth of the national economy to stand at 2.7% in the fourth quarter of 2014 against 2.9% the same period the previous year.
The growth of non-refinery industries stood at 2% during the fourth quarter of 2014 down from 3% in the third quarter. A similar growth was registered by Agri-food industries which improved 3.8% year-on-year during the fourth quarter.
During the same period, the added value of non-agricultural activities increased by 3.5% year-on-year against 2% a year earlier.
Communication, transport and commercial activities benefited from the dynamism of the tertiary sector posting a comprehensive economic growth of 1.7 points. In a context marked by a shrink in tourism sector revenues, hotels and restaurants saw profits reduced by 1.3%.
Construction and public works posted a slight increase of 0.8% during the same period while sales of cement declined by 6%.
Concerning the agricultural sector, the shrink in the added value was estimated at 1.5% in the fourth quarter compared to the same period the previous year.
The 2013/2014 crop year was affected by a rainfall deficit of 27% in comparison to a normal season, recalled the HCP, noting that this impacted the crop yields.
Agricultural output in irrigated areas rose leading to a 7.8% drop in vegetables' prices and a similar slump of 6.6 in fruit prices during the 11 months of 2014.
Red meat production increased by 3.1% in comparison to 2013 despite an increase in animal feed.
Considering the figures available by November 2014 as well as sector-based forecasts, the HCP estimated the growth of the national economy to stand at 2.7% in the fourth quarter of 2014 against 2.9% the same period the previous year.
Source : https://www.emouaten.com/english/Mining-services-m...