Morocco reaches 431 billion in foreign exchange reserves, driven by record tourism

This unprecedented performance is equivalent to nearly $47 billion, providing the country with a safety cushion capable of covering more than five months of imports. Bank Al-Maghrib confirms that this dynamic is based on a break with previous cycles: tourism receipts have soared by 16.7% to reach 113 billion dirhams, while foreign direct investment (FDI) has exploded by 28% to reach 45.4 billion.

Over a decade, the transformation is radical. Reserves have increased by 140% since 2014, rising from 180 billion to over 431 billion today. This upward trajectory has made it possible to weather successive crises (Covid-19, global inflation) without difficulty and to consolidate the credibility of the dirham in the face of exogenous shocks.

The future looks promising. Projections are betting on a continued growth of official assets up to 434.5 billion dirhams in 2026. This trend will be supported by an expected 20% rebound in automotive exports and a stabilization of remittances from Moroccans living abroad, ensuring Morocco strengthened financial sovereignty in an uncertain international context.