Morocco’s Industrial Activity Shows Improvement in July

Bank Al Maghrib’s (BAM), Morocco’s central bank, July 2025 business survey shows that the country’s industrial activity has improved.

Production and sales grew across all sectors except “textile and leather,” where sales stagnated, BAM reported in its latest monthly industrial survey.

Under these conditions, the Capacity Utilization Rate (CUR) reached 79%, marking a slight increase from the previous month, the central bank noted.

Orders recorded growth, with increases in “agri-food” and “mechanical and metallurgy” sectors, stagnation in “chemicals and petrochemicals,” and a decline in “textile and leather.”

Order books remained below normal levels overall, though the survey found above-normal levels in “agri-food,” normal levels in “mechanical and metallurgy,” and below-normal levels in “textile and leather” and “chemicals and petrochemicals.”

The survey also found that manufacturers expect production and sales to rise in the next three months across all branches except “textile and leather,” where they anticipate stagnation will continue.