(MENAFN - Morocco World News) By Hajare El Khaldi
Rabat – National economic growth mainly driven by agricultural activity stood at 4.1 percent in the fourth quarter of 2017, compared to only 1 percent during the same period of 2016, according the (HCP) report.
After a sharp decline of 12.5 percent in the fourth quarter of 2016, the added value of the primary sector (extraction of raw materials), increased by 10.9 percent during the same period of 2017.
'This development is the result of a 13.1 percent increase in agricultural activity against a 13.7 percent decrease a year earlier, and a decline of 10.5 percent [in the fourth quarter] against of 1.3 percent,' explained HCP.
The secondary sector (manufacturing) has achieved an increase of 3.9 percent, up from 2.2 percent in the same quarter of 2016, says HCP, linking this situation to the improvements made in the mining industry, with an increase of 17.8 percent from 3.7 percent; the processing industries, with an increase of 2.7 percent against of 2.1 percent; and electricity and water with an increase of 5 percent against 4.5 percent.
The added value of the tertiary sector (services) is up by 3.1 percent in the fourth quarter of 2017, against 2.8 percent in the previous year, says the same source, noting that 'all the components of the sector have witnessed a positive growth, to a certain extent strong compared to the levels recorded during the same period last year.'
Read Also: Meknes to Host 13th Annual International Agriculture Fair in April In this regard, the transport sector grew by 6.6 percent up from 3.4 percent growth in 2016; household and business services increased by 4.1 percent compared to 3.3 percent in 2016; financial services and insurance is up 1.8 percent against 1.6 percent; and services rendered by the General Public Administration and Social Security are up 1.4 percent from 0.8 percent in 2016.
Meanwhile, jobs and telecommunications decreased from 3.1 percent to 2.9 percent; education, health and social services declined from 2.1 percent to 0.3 percent; and hotels and restaurants decreased from 9.6 percent to 9 percent.
The added value of non-agricultural activities increased by 3.2 percent up from 2.6 in the fourth quarter of 2016.
Created to replace the Ministry of Planning and Economic Forecasts in 2003, HCP is an agency responsible for producing, analyzing, and publishing official statistics in Morocco.