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Morocco: Industrial Activity Boosts Dynamics at the End of 2025 According to Bank Al-Maghrib
Industrial activity in Morocco continued to improve in December 2025, according to the monthly economic survey results released by Bank Al-Maghrib.
The central bank noted an increase in production within the textiles and leather sectors, as well as in the chemicals and semi-chemicals sectors, while food industries remained stable and there was a decline in the mechanics and metals sectors. This survey was conducted between January 1 and January 28, 2026.
In this context, the rate of utilization of production capacities remained steady at 79 percent, the same level as the previous month.
Regarding sales, there was an increase in the chemicals and semi-chemicals sectors, as well as in the mechanics and metals sectors, while sales in textiles and leather stayed stable and declined in food industries. Depending on the marketing destination, sales experienced growth both in the domestic market and in foreign markets.
However, total demand recorded a decline, attributable to a decrease in the textiles and leather, and chemicals and semi-chemicals sectors, while remaining stable in food industries, against an increase in the mechanics and metals sectors.
Order books reached a generally considered normal level, with levels exceeding the usual average in the mechanics and metals sectors, a normal level in food industries, and below average in textiles and leather, and chemicals and semi-chemicals sectors.
Over the next three months, manufacturers anticipate general stability in the production levels, with declines expected across various sectors, except for mechanics and metals where an increase is anticipated. However, Bank Al-Maghrib pointed out that more than one-fifth of businesses express uncertainty regarding the future development of production.
Regarding sales, companies expect stability across most sectors, with the exception of the chemicals and semi-chemicals sector, where a downturn is anticipated.
