Moroccan Expatriate Remittances Surge 48% Amid Travel Sector Decline

29 July 2021 – byJérôme · 1 min read

During the first half of 2021, remittances from Moroccans residing abroad (MRE) reached more than 44.19 billion dirhams (MMDH), compared to only 29.83 MMDH in the same period last year, an increase of 48.1%.

The indicators published by the [Foreign Exchange Office] also report a 33.1% decrease in the surplus of the services trade balance to 21.73 MMDH, due to the drop in recorded exports and the increase in imports.

Regarding "travel", the main component of trade in services, its surplus balance fell by 69.6%. This development is mainly due to the 58.1% drop in "travel" receipts, reaching 8.826 MMDH at the end of June 2021. At the same time, "travel" expenditure also fell by 25.6%.

Category: Economy

Keywords:

Imports MRE Transfers Exports Exchange Office