In late 2024, 36% of Moroccan wholesalers reported increased sales, indicating growth in the wholesale sector, despite challenges in the non-financial services sector where 49% experienced declines. Optimism for early 2025 is reflected among both sectors, with expectations of growth in several areas including land transport and warehousing.
According to a survey conducted by the High Commission for Planning (HCP), Morocco’s wholesale trade sector demonstrated significant growth last year, with 36% of wholesalers reporting increased sales in the fourth quarter of 2024. Conversely, the non-financial services sector encountered difficulties, as 49% of companies noted a decline in activity. Nevertheless, outlook for the first quarter of 2025 appears to be more positive, with 37% of service businesses and 28% of wholesalers expecting growth.
During the last quarter of 2024, nearly half of the leaders in the non-financial services sector indicated a decline, while 35% reported an increase. The decline was attributed to decreased activity in telecommunications, air transport, and real estate services. In contrast, growth was recorded in hospitality, land transport, and warehousing sectors.
The sector’s capacity utilization rate registered at 74%. A majority of businesses, specifically 79%, considered their order books to be at normal levels, while employment remained stable for 59% of companies. However, 22% reported reductions in their workforce. Investment priorities in 2024 strongly leaned toward equipment replacement and business expansion, as noted by 76% of executives surveyed.
Looking ahead to the first quarter of 2025, a notable 37% of business leaders anticipate growth, while only 8% predict a decline. Positive developments are expected in land transport, warehousing, and IT services, although postal services and engineering activities may face challenges. Most companies, 68%, expect demand to remain steady, with 27% predicting an increase in demand.
Within the wholesale trade sector, growth was pronounced, with 36% of businesses reporting higher sales and 53% maintaining stability in the local market. Expansion was strongest in industrial equipment, agricultural products, and specialized wholesale trade. Employment levels remained stable for 77% of enterprises, with 86% indicating normal stock levels. Most leaders (68%) noted stable sales prices, while 27% experienced price reductions.
For early 2025, 64% of wholesalers anticipate stable sales, with 28% foreseeing growth. Sectors such as household goods, food and beverages, and industrial equipment are expected to drive sales; however, a decline is expected in the agricultural products and livestock trade. Furthermore, 74% of companies expect order volumes to remain normal, while 79% predict that employment levels will stabilize accordingly.
In summary, Morocco’s wholesale trade sector concluded the fourth quarter of 2024 with notable growth, while the non-financial services sector faced challenges with a substantial number of companies reporting declines. Despite these difficulties, business leaders exhibit a cautiously optimistic outlook for early 2025, emphasizing stability in demand and employment. Continued investment in equipment and expansion remains a priority, particularly in the wholesale sector, which has shown resilience amidst various market pressures.
Original Source: www.moroccoworldnews.com
