This is attributed to a 14.4% drop in non-agricultural value added and a 6.1% decline in that of agriculture, said the HCP, for whom this drop is partly due to the decline in foreign demand addressed to Morocco, which would have declined by 18% in the second quarter of 2020.
As for exports in volume terms, they would indeed have fallen by 25.1%, instead of -3.1% a quarter earlier, “penalized by the drop in shipments from most sectors, in particular the automotive sector, textiles and leather and aeronautics ”.
This downward trend is also recorded at the level of imports which, for their part, would have declined by 26.7%, “impacted by the decline in purchases of capital goods, energy products, consumer goods, raw products and semi-finished products ”.
Only purchases of foodstuffs would have resisted this situation, “fueled by purchases of cereals, animal feed and sugar”, according to the HCP.
In the third quarter of 2020, the drop in value added excluding agriculture should gradually diminish, with the recovery of trade, transport and manufacturing activities, standing at -4.1%.
Given a drop of 5.9% in agricultural value added, economic activity would decline by 4.6%, instead of + 2.4% in the third quarter of 2019, reports HCP, still quoted in the publication.
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