According to the High Commission for Planning (HCP), the production price index of the “Manufacturing Industries excluding petroleum refining” sector increased by 0.2% in March 2023 compared to the previous month. The HCP’s report shows that “Metallurgy” prices rose 1.8%, “Food Industries” prices rose 0.2%, and “Clothing Industry” and “Furniture Manufacturing” prices each rose 0.8%, driving the overall increase. The “Textile Industry” “Chemical Industry,” “Manufacture of Rubber and Plastic Products,” and “Leather and Shoe Industry” also saw a modest increase of 0.5% and 0.1%, respectively.
However, the report also indicated a decrease of 2.3% in prices for “Machinery and Equipment Manufacturing,” as well as a decrease of 0.1% in “Manufacture of Electrical Equipment” and “Manufacture of Computer Products.”
Meanwhile, the production price indices of the “Extractive Industries,” “Electricity Production and Distribution,” and “Water Production and Distribution” sectors remained unchanged during March 2023.
These findings suggest that while some manufacturing industries in Morocco experienced a slight increase in prices, others faced a decline in March. Policymakers and industry leaders need to monitor these trends and adjust their strategies accordingly to ensure sustainable growth and competitiveness in the sector.