Morocco’s extractive sector continues to grow

The extractive sector continued to perform well at the end of September 2020, recording growth of 3.7%, according to the Financial Studies and Forecasting Department (DEPF).

In the third quarter of 2020, the sector’s production index rose by 3.8%, after 7.6% in Q2-2020, according to the DEPF in its December economic report.

Parallel to this development, the production of rock phosphate, the main component of this sector, increased in the third quarter of 2020 by 5%, after +2.3% a year ago, adds the same source.

At the end of the first nine months of 2020, this production increased by 4.8%, after a 2.3% rise a year earlier, the note notes that this development has benefited from the sector’s strong export performance.

At the end of October 2020, these exports recorded a volume performance of +6% for rock phosphate and +11.5% for its derivatives, DEPF continues.

Besides, under the price effect, the global export turnover of OCP fell by 2.2% at the end of the first ten months of 2020 to reach MAD 41.5 billion.


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