Morocco’s wholesale sector projects stable Q2 performance

Morocco’s wholesale trade sector anticipates steady performance in the second quarter of 2025, with 68% of wholesalers expecting stable sales volumes and 26% forecasting increases, according to the High Commission for Planning’s (HCP) latest quarterly survey.

The projected stability stems from anticipated sales growth in specialized wholesale trades and industrial equipment sectors, offset by expected declines in domestic goods wholesale, the HCP explained in its quarterly business survey covering non-financial market services and wholesale trade sectors.

Looking ahead to Q2 2025, 77% of business leaders characterize expected order levels as normal, while 84% of wholesalers anticipate stable employment levels, indicating sector confidence despite mixed performance across different wholesale categories.

First-quarter 2025 results showed moderate expansion, with 28% of wholesalers reporting increased domestic market sales and 61% maintaining stability. Performance varied significantly by subsector, with specialized wholesale trades and industrial equipment wholesale driving growth, while information and communication equipment wholesale experienced declines.

Employment remained largely stable during Q1, with 79% of businesses reporting unchanged workforce levels. Inventory management appears balanced, as 84% of wholesalers reported normal stock levels, suggesting efficient supply chain operations despite global disruptions.

Price trends showed remarkable stability, with 68% of business leaders reporting unchanged selling prices and 28% noting decreases, potentially reflecting competitive pressures or improved operational efficiencies. This price stability, combined with steady employment and normal inventory levels, suggests the wholesale sector maintains equilibrium despite varying subsector performances, positioning it for continued stability through mid-2025.