Foreign Trade: Import Prices Decrease, Exports Rise in Value in Morocco in Q1 2026
The foreign trade indices (ICE) of Morocco for the first quarter of 2026 indicate a contrasting trend between imports and exports. While the prices of imported goods have slightly decreased, the prices of exported merchandise have continued to rise, reflecting different dynamics across product categories.
Imports Show a Slight Decline in Unit Values
According to the published data for the first quarter of 2026, the import unit value index decreased by 0.5% compared to the same period in 2025.
This decline is primarily attributed to falling prices in several product categories, particularly energy and lubricants (-7.8%), finished industrial equipment (-3.3%), food, beverages, and tobacco (-6%), semi-finished products (-1.3%), raw animal and vegetable products (-3.1%), and agricultural equipment (-8.8%).
Conversely, this trend was partially offset by a significant increase in the unit values of raw mineral products, which surged by 80.9%, along with a 2.8% rise in finished consumer goods.
Exports Rise Driven by Consumer Goods and Agro-foods
On the export side, the unit value index increased by 2.6% year-on-year.
This growth is primarily driven by rising prices of finished consumer goods (+5.6%), food, beverages, and tobacco (+7.1%), finished industrial equipment (+4%), raw mineral products (+7%), and agricultural equipment, which saw the highest increase at 20.5%.
In contrast, certain categories experienced declines, notably semi-finished products (-5.6%), raw animal and vegetable products (-12%), and energy and lubricants (-4.8%).
Trends Reflecting Changes in International Markets
These results illustrate the changing conditions of Morocco’s external trade against a backdrop of fluctuations in international markets for raw materials, energy, and industrial products. They also indicate an improvement in the valuation of several exported products, while the average cost of certain imports continues to decrease.
