Moroccan Expatriate Remittances Surge 41% to 86 Billion Dirhams Despite Border Closures

These remittances have thus increased by 41.1%, the equivalent of 25.187 BMDH, according to the Foreign Exchange Office in its bulletin on the monthly indicators of foreign trade for the month of November.

This note also reports a surplus in the balance of trade in services up 5.9% to over 59.94 BMDH.

In detail, exports improved by 9.1% to reach 127.5 BMDH at the end of November 2021, and imports increased by 12% to over 67.55 BMDH.

Travel, a key element of trade in services, showed a surplus that was almost stable compared to the end of November 2020. Compared to the same month in 2019, the pre-Covid-19 crisis period, this surplus recorded a clear drop of 58.7%.