he High Commission for Planning has released its foreign trade indices for the second quarter of 2026, and they describe a marked rise in the price of goods crossing the Kingdom’s borders. The import unit value index, calculated on a 2019 base of 100, went from 104.8 to 115.3 points in a year, an increase of 10.0%. Two groups carry most of the movement: energy and lubricants, whose unit values climbed 53.1%, and crude products of mineral origin, which jumped 97.0% as their index went from 98.6 to 194.2 points. Other purchases stayed calm, from semi-finished products (+4.6%) to consumer goods (+0.8%), while food (-0.6%) and agricultural equipment (-3.3%) fell.
On the export side the rise is sharper still: the index reached 129.9 points against 117.1 a year earlier, up 10.9%, its highest level among the ten quarters the note covers since early 2024. Semi-finished products drive it, with unit values up 23.4%, followed by food, beverages and tobacco (+16.2%). With selling prices rising slightly faster than buying prices, Morocco’s terms of trade improved a little over the year. What remains is the surge in imported mineral products, which grew month after month from April to June: the third-quarter figures will tell whether it was passing or lasting.
Photo: Farid mernissi, CC BY-SA 4.0.
Haut-Commissariat au Plan - Les indices du commerce extérieur (ICE) au Maroc, deuxième trimestre 2026
