Moroccan Diaspora Remittances Surge 16.5% to $11 Billion in 2022
Remittances from Moroccans residing abroad (MREs) experienced a significant increase in 2022, according to data published by the Office of Foreign Exchange.
By Said A.
Remittances amounted to more than 109.15 billion dirhams in 2022, an increase of 16.5% compared to the previous year, which was 93.67 billion dirhams.
The Office of Foreign Exchange also reports a surplus in the balance of trade in services in 2022, up 82.2% to 113.65 billion dirhams. This increase is due to a more significant growth in exports, which increased by 58.3% to reach 220.18 billion dirhams, compared to an increase in imports of only 38.9% or 29.83 billion dirhams.
