Rabat - Jan 3, 2013 (MAP)
Rabat – Jan 3, 2013 (MAP)
The Gross Domestic Product (GDP) growth in Morocco stood at 2.9% in the third quarter of 2012, against 5% during the same period a year earlier, according to the High Commission for Planning (HCP).
The growth of non-agricultural GDP has kept its “relatively high” pace at 4.9% in the reporting period as against 5% a year earlier. Agricultural GDP declined by 8.4%, whereas it had increased by 6% in the same period in 2011.
As regards domestic demand, final consumption expenditure of households increased by 3.5%, with a contribution of 2.1 percentage points to growth, against a 9.6% growth and a contribution of 5.4 points in the same quarter of the previous year.
Final consumption of public institutions posted a 5% rise and contributed 0.7 percentage points to growth.
As for foreign trade of goods and services, it contributed positively to economic growth with 0.2 points, compared to a negative contribution of 1.7 percentage points a year earlier.