Moroccan Diaspora Remittances Surge to $7.5 Billion in 2020, Defying Pandemic
Remittances from Moroccans living abroad increased by 5% to a total of 67.997 billion DH (MDH) in 2020 compared to 64,779 billion in 2019, according to the Office des Changes.
In 2020, travel receipts amounted to 36.364 billion DH, down 53.8% compared to 2019. As for expenditure, it also fell and is set at 49.6% to 10.542 billion. As for the surplus of the travel balance, it decreased by 55.3%, i.e. -32.003 billion DH.
Regarding the net flow of foreign direct investment (FDI), it recorded a slight increase of 1% at the end of December 2020, reaching 15.54 billion dirhams (MMDH) against 15.37 billion a year earlier, the same source said.
In its bulletin on indicators of foreign trade at the end of 2020, the Office justifies these results by a decline in FDI expenditure of 41.6% to 10.82 MMDH, combined with a decrease in revenue (-22.3%).
As for the net flow of Moroccan direct investment abroad (IDME), it experienced a decline of more than 5.27 billion in 2020. IDME stood at nearly 7.74 billion in 2020, a decrease of 32.8%, while the disposals of these investments more than doubled (+1.49 billion).
