Exchange Office

Articles

• Morocco’s Trade Deficit Narrows as Phosphate and Automotive Exports Surge
  5 May 2019, by Said

  As every month, the Office des Changes draws up the balance sheet of Morocco’s trade exchanges with other countries, mainly European. Let’s see in detail what the kingdom exports.
  In its note on the monthly indicators, the office reports a 2.4% reduction in the trade deficit to 46.947 billion dirhams, compared to 48.087 billion dirhams a year earlier. This is explained by a greater increase in exports (+2.914 billion dirhams) than imports (+1.774 billion dirhams).
  In terms of exports, (…)

• Moroccan Buyers Lead Foreign Real Estate Purchases in Spain, Outpacing Chinese and Russians
  16 May 2019, by Kamal

  While the Spanish government was targeting Russian and Chinese nationals for the acquisition of housing in exchange for the residence card, it is the Moroccans who are leading the list of non-European buyers, according to statistics from the Spanish Land Registry and Property Office.
  Since the bursting of the real estate bubble in Spain, the Spanish government has been offering non-European nationals a two-year renewable residence permit in the event of the acquisition of a property worth (…)

• Morocco’s Automotive Exports Surge to 70 Billion Dirhams, Boosting Economy
  31 December 2021, by Armel

  This trend is due to the 26.2% increase in sales in the construction segment, said the Office des Changes, noting that sales in the cabling segment fell slightly by 1.1%.
  As for phosphates and derivatives, their sales increased by 51.9% to 69.19 billion dirhams at the end of November, compared to the same period in 2020. This trend is attributable to the increase in sales of natural and chemical fertilizers (+14.73 billion dirhams) due to the price effect up 65.4%.
  Sales in the textile (…)

• Moroccan Expatriates Send Record $10 Billion in Remittances Home in 2021
  6 May 2022, by Ginette

  In 2021, the funds transferred by Moroccans residing abroad (MREs) amounted to nearly 93.3 billion dirhams (MMDH), compared to 68.18 MMDH in 2020. A record that should not be beaten this year.
  According to the monthly bulletin of foreign trade indicators for December 2021 published by the Foreign Exchange Office, a strong increase of 36.8% or 25.07 MMDH was noted last year.
  During the same period, exports increased by 6% to reach 139.018 MMDH. As for imports, they increased by 11.4% to (…)

• Moroccan Diaspora Remittances Reach 30.56 Billion Dirhams, Up 5.3% in April
  2 June 2022, by Armel

  At the end of last April, remittances by Moroccans residing abroad (MREs) reached more than 30.56 billion dirhams (MMDH), up 5.3% compared to last year, according to the Office des Changes.
  These transfers have continued the positive trend observed during the pandemic period, the office indicates in its recent bulletin on foreign trade indicators, specifying that in 2021 they amounted to 29.03 MMDH, an increase of 1.525 MDH.
  The note also explains that the explosion of transfers through (…)

• Moroccan Diaspora Remittances Rise 5% to 38.31 Billion Dirhams in May
  7 July 2022, by Armel

  At the end of last May, Moroccans living abroad (MRE) transferred around 38.31 billion dirhams (MMDH) against 36.47 MMDH in the same period in 2021, according to the Office des Changes.
  These remittances from MRE are up 5%, the office also noted, also reporting a surplus in the balance of trade in services of more than 30.63 MMDH, up 78.3% during the period.
  This positive trend is attributable to a 44.8% increase in exports to 67.73 MMDH, greater than the 25.3% increase in imports, the (…)

• Remittances to Morocco Drop 2.9% as Foreign Investment Plunges
  13 June 2019, by Marcel

  Moroccans living abroad have transferred less money since the beginning of the year, compared to the same period last year. This is according to the latest figures published by the Office of Foreign Exchange.
  Thus, at the end of last April, Moroccans abroad sent 20.5 billion dirhams to their country of origin, down 2.9% compared to last year.
  The figures for foreign direct investment (FDI) are also in the red. Still according to the Office of Foreign Exchange, the flows have experienced (…)

• Morocco’s Tourist Currency Quota Lags Behind North African Neighbors
  19 June 2019, by Bladi.net

  As absurd as it may seem, the foreign exchange quotas that the three Maghreb countries, namely Morocco, Tunisia and Algeria, have imposed on themselves, are not based on any credible criteria.
  In these three countries, the "tourist allocation" imposed on any tourist wishing to travel abroad reveals disproportions that nothing can explain. The irony is that, every year, the observed gaps widen without the parties concerned knowing what motivates the increase in these currencies that they (…)

• Gulf Expats Boost Remittances to Morocco as European Transfers Decline
  19 June 2019, by Bladi.net

  The trend is downward for money transfers from Moroccans residing abroad (MREs), in general and, particularly, from the European continent. On the other hand, for those from the Gulf countries, transfers are exploding!
  In a drastic drop, for some time now, money transfers made by MREs have recorded, at the end of April 2019, a decline of 619 million DH, or -2.9%.
  While this drop is mainly observed among MREs in Europe, funds transfers from the Gulf countries are clearly on the rise. (…)

• Morocco’s Exchange Office Outlines Currency Benefits for Expatriates in New Video
  5 July 2019, by Said

  The MREs are back and so are the official communications. After the customs services, it is the Office of Exchange that has just published a video on the facilities granted to Moroccans of the World.
  This video in Arabic, published on Thursday, July 4, 2019 on YouTube, details all the benefits granted by the Office of Exchange but also the procedures to be carried out for the import or export of foreign currency.
  It also discusses the new services set up in their favor, such as the (…)