Morocco’s import unit values declined 5.8% during the third quarter of 2025, while export unit values recorded slight 0.4% increases compared to the corresponding 2024 period, according to the High Commission for Planning’s Monday, January 5 report.
The commission attributes import index declines primarily to marked price reductions across several product categories. Industrial equipment finished products and semi-finished products saw unit values decrease 8.7%, while energy and lubricant prices plunged 11.6%. Consumer finished products declined 3.1%, food, beverages, and tobacco fell 3.8%, and raw products of animal and vegetable origin dropped 2.3%, all contributing to downward trends.
Conversely, export unit value indices progressed 0.4% over the same period. This increase stemmed essentially from semi-finished product price increases at 10.7% and raw mineral origin products rising 4.1%. However, this progression was partially attenuated by unit value declines for energy and lubricants at negative 22.3%, raw animal and vegetable origin products falling 17.3%, food, beverages, and tobacco declining 3%, industrial equipment finished products down 4.2%, and consumer finished products decreasing 1.6%.
The contrasting price movements reflect complex international commodity market dynamics affecting Morocco’s trade position. Lower import prices, particularly for energy and industrial equipment, potentially ease production costs for Moroccan manufacturers while reducing the overall import bill. However, mixed export price performance, with gains in some categories offset by declines in others, suggests competitive pressures in international markets.
Energy price volatility particularly impacts Morocco’s external accounts, given the kingdom’s energy import dependence. The substantial energy and lubricant price decline at import level, contrasted with even steeper export price drops, indicates Morocco’s limited energy export activities while benefiting from global energy price moderation during this period.
Semi-finished product export price gains suggest potential value addition in Moroccan manufacturing processes, while finished product price pressures across multiple categories indicate competitive challenges in global consumer markets where Morocco competes with numerous other emerging economy exporters.
