Various economic sectors have played a key role in shaping Morocco’s economic performance since the beginning of 2025, a trend the government describes as a gradual structural transformation toward a more stable and independent economy less reliant on climate conditions and agricultural activity. n nThe construction and public works sector has seen strong momentum, particularly with cement sales accelerating by 15.3 percent in the second quarter of 2025, compared to 4.6 percent in the first quarter. This growth is attributed to the buildup of major infrastructure projects linked to preparations for the 2025 Africa Cup of Nations, as well as the positive development of the direct social housing support program, which had benefited 55,512 individuals by July 10. n nTourism has also maintained its momentum from 2024, with a 19 percent increase in tourist arrivals at border crossings during the first half of 2025. Hotel overnight stays rose by 14 percent by the end of May. n nIn the mining sector, the OCP Group reported a 10.2 percent rise in turnover during the first quarter of 2025, driven by increased sales of phosphate-based products and stronger international demand, particularly in Europe, Africa, Oceania, and Brazil. Moroccan exports of phosphate and derivatives rose by 10.3 percent by the end of May, supported by stable global supply amid Chinese export restrictions. n nThe manufacturing industry also showed growth, with the industrial production index rising by 3.2 percent in the first quarter, supported by strong performance in the automotive, chemical, and food industries. n nRetail trade benefited from increased household consumption during the first quarter, attributed to easing inflationary pressures and gradual improvements in purchasing power, reflecting the delayed impact of wage increases and better rural household incomes. n nData from the Ministry of Economy and Finance indicates that Morocco’s economic resilience in 2025 is due to sustained growth in non-agricultural activities, which have been approaching their potential levels for the third consecutive year. n nImports rose by 7.4 percent in the early months of the year, mainly consisting of energy products, equipment, semi-finished goods, and consumer items. This led to a decline in the import coverage ratio by 2.7 points, reaching approximately 60 percent.