Remittances from Moroccans living abroad amounted to nearly MAD 39.98 billion as of the end of April, a 9.8% increase over the same period last year, according to the Office des Changes, Morocco’s foreign exchange regulator.
In its latest report on monthly external trade indicators, the office said that the travel balance reflected a surplus of more than MAD 34.55 billion, up 26.7% from a year earlier.
The country’s travel receipts also rose by 21.2% to MAD 44.39 billion, while expenditures increased only by 5.4% to MAD 9.84 billion.
Net foreign direct investment (FDI) inflows fell 10.1% to MAD 11.65 billion as investment receipts declined faster than related outflows.
Meanwhile, Morocco’s direct investment abroad (MDI) rose 41.9% to more than MAD 3.46 billion over the same period.
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