Morocco says GDP growth steady at 3 per cent in quarter 3 of year

Reuters, Friday 31 Dec 2010

Despite a shrinking agricultural sector, Morocco experiences constant growth

Morocco's economy grew 3 percent in the third quarter compared to the same period last year. This maintains the country's pace of growth of the previous quarter, the government's High Planning Commission (HCP) said on Friday.

Growth was slower this year than a year ago, when Moroccan gross domestic product rose 4.9 per cent during the third quarter of 2009, due to a decline in the agricultural sector.

The agency said the agricultural sector, which accounts for about 15 per cent of gross domestic product, declined 8.4 per cent in the third quarter of 2010 after a 29.4 percent expansion during the third quarter of 2009. Growth in all other sectors, except trade, topped year earlier levels, HCP data showed.

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