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Moroccan Industry Shows Production Stagnation and Sales Drop in January 2026
Bank Al‑Maghrib’s January 2026 industrial survey reveals a flat production front and a noticeable decline in sales across the sector. Capacity utilisation hovered around 77%, while the agro‑food and mechanical‑metallurgy segments posted modest gains, contrasted by weaker performance in textile‑leather and chemicals. Overall sales fell on both domestic and export markets, and order books remained average. Companies expect production and sales to pick up in the coming months, except for textiles, yet about one in four firms voice uncertainty about future output.
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Key Findings from the January 2026 Industrial Survey
Bank Al‑Maghrib’s monthly industrial report indicates that overall production remained flat in January, with the capacity utilisation rate (TUC) recorded at 77 %. While some subsectors showed modest growth, others continued to contract.
Production by Sub‑sector
- Agro‑food: slight increase
- Mechanical & Metallurgy: slight increase
- Textile & Leather: decline
- Chemical & Parachimic: decline
Sales Performance
- Agro‑food: growth
- Textile & Leather: growth
- Mechanical & Metallurgy: stagnation
- Chemical & Parachimic: decline
Overall sales fell on both the domestic front and export markets.
Orders and Order Books
New orders were largely stagnant. The agro‑food and mechanical‑metallurgy sectors saw an uptick in orders, whereas textile‑leather and chemical‑parachimic experienced a drop.
- Agro‑food: orders above normal
- Mechanical & Metallurgy: orders above normal
- Textile & Leather: orders below normal
- Chemical & Parachimic: orders below normal
On balance, the order‑book level is considered normal.
Outlook for the Next Quarter
Industrialists expect a general rise in production and sales across most sectors during the next three months, except for textile‑leather, where production is projected to stay flat. However, roughly 25 % of firms express uncertainty about future production trends.