Morocco’s external trade turned downward in the second quarter of 2025, driven by a steep fall in import and export prices, according to the latest bulletin from the Haut-Commissariat au Plan (HCP).
Imports fell sharply, with the unit value index down 5.7 percent year-on-year. The drop was largely due to a 19.2 percent fall in energy and lubricant prices, alongside a 21 percent plunge in agricultural equipment. Other categories also retreated, including finished consumer goods (-6 percent) and industrial equipment (-4.9 percent).
Exports registered a more moderate 0.8 percent decline, weighed down by a 25 percent slump in raw animal and vegetable products, a 12.1 percent drop in energy, and double-digit decreases in industrial and agricultural equipment.
The decline was partially offset by a 9.8 percent rise in semi-finished products, the HCP said, but overall the trend reflects weakening global demand and falling commodity prices.
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