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Morocco's Economy Grows by 3.8 Pct in Third Quarter |
Edited by Xia Yuanyuan ·2017-10-09 |
Morocco's economy grew 3.8 percent in the third quarter of this year, after a slow growth of 1.3 percent in the same period last year, the official High Commission for Planning (HCP) said on Sunday.
The commission said in a note on the Moroccan economy that this growth was mainly due to the rise in agricultural output by 14.7 percent in the third quarter, a sharp jump from a 13.6 pct decrease year-on-year.
The Moroccan economy was hit hard by a severe drought in the autumn of 2015, which compromised the 2016 agricultural production. Helped by heavy rainfall in late 2016, the economy has greatly improved this year.
Apart from the agriculture sector, which accounts for more than 15 percent of the country's economy, the non-agricultural sector grew 2.6 percent, the commission added.
As for the fourth quarter, HCP expects the GDP to grow by 3.9 percent, driven by 13.5 percent increase in agriculture output and 2.7 percent in non-agriculture activities.
(Xinhua News Agency, October 9, 2017)
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