Morocco’s Industrial Activity Stalls in January 2026

According to the latest monthly industry survey by Bank Al-Maghrib, economic activity in Morocco showed signs of stagnation in January 2026, marked by flat production levels and a decline in overall sales.

The findings highlight a mixed performance across sectors, reflecting uneven momentum within the industrial landscape.

Production and Capacity Utilization in Morocco

Under these conditions, the Capacity Utilization Rate in Morocco stood at 77 percent. While some industries managed to post gains, others experienced notable slowdowns, balancing overall output at a near standstill.

Production increased in the agrifood as well as the mechanical and metallurgical sectors. In contrast, activity declined in the textile and leather industry and in the chemical and parachemical sector. This divergence illustrates the varied sectoral dynamics that shaped the month’s industrial performance, with gains in certain branches offset by contractions in others.

Sales, Orders, and Short-Term Outlook

Sales trends also differed by sector in Morocco. Growth was recorded in agrifood and in textiles and leather, while sales stagnated in mechanical engineering and metallurgy. Meanwhile, chemicals and related industries reported a decline. Overall, total sales in Morocco fell when considering both domestic and foreign markets, indicating softer demand at home and abroad.

Orders followed a similar pattern of stagnation overall. Increases were observed in agrifood and mechanical and metallurgy activities, whereas textiles and leather, along with chemicals and parachemicals, registered declines. Despite these fluctuations, order books were generally considered to be at normal levels. They were above normal in agrifood and mechanical and metallurgical industries, but below normal in textiles and leather and in chemicals and parachemicals.

Looking ahead to the next three months, manufacturers in Morocco expect a general rise in both production and sales across most sectors. The exception remains textiles and leather, where production is projected to stagnate. However, uncertainty persists, as nearly one quarter of surveyed companies report limited visibility regarding future production trends, underscoring cautious sentiment within the industrial sector in Morocco.

__

(Featured image by Nichika Sakurai via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in LES ECO.ma. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.