Morocco’s energy product imports reached MAD 122 billion in 2023, marking a significant decrease of 20.4% compared to 2022, according to the country’s Office des Changes (Foreign Exchange Office).
The most notable decline was observed in the imports of diesel and fuel oil, which accounted for more than half of the reduction in energy product supplies. This information was highlighted in the Office’s annual report on Morocco’s foreign trade.
In addition to energy products, imports of semi-finished products also saw a downturn, falling by 10.5%. This decrease was primarily due to reduced imports of ammonia (down MAD 12.6 billion), chemical products (down MAD 3.2 billion), and various paper and cardboard products (down MAD 2.7 billion).
Raw material supplies contributed to the overall drop in imports as well, showing a 27.9% decrease. The primary factor for this decline was the reduction in imports of raw and unrefined sulfur (down MAD 10.8 billion).
Conversely, imports of finished equipment products surged to MAD 161.7 billion, a 14.4% increase from 2022. This rise was driven mainly by the acquisition of devices for cutting or connecting electrical circuits and resistors (up MAD 3.9 billion) and insulated electrical wires and cables (up MAD 2.4 billion).
Finished consumer product imports continued their upward trend, reaching MAD 158 billion in 2023. This growth was largely due to increased purchases of passenger cars (up MAD 3 billion) and their parts and components (up MAD 6.7 billion).
Food product imports experienced a modest increase of 3.3%, a slower pace compared to the previous year.
The Office des Changes’ report provides a comprehensive overview of Morocco’s foreign trade dynamics, highlighting significant trends and shifts in import patterns across various sectors.
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