Morocco Sees 8.1% Drop in Remittances from Expatriates Amid Economic Downturn

FDI revenues fell by 22.2% to 12.96 MMDH and expenses by 39.7%, the Office said in its bulletin on foreign trade indicators at the end of June. As for the net flow of Moroccan direct investment abroad (IDME), it fell by 1.68 MMDH.

As for the remittances made by Moroccans Residing Abroad, "they recorded a decrease of 8.1% to more than 28.41 MMDH". Travel receipts, on the other hand, "decreased by 33.2% to nearly 22.4 MMDH at the end of June 2020, while expenses fell by 41.7% to 5.5 MMDH," the Foreign Exchange Office said.