Moroccan Expat Remittances Surge 42.5% to 71.88 Billion Dirhams, Boosting Trade Balance

These transfers are thus up 42.5%, or 21.42 billion dirhams, the Foreign Exchange Office said in its monthly indicators, adding that for the first time in two years, these indicators also show a surplus in the balance of trade in services up 4.9%, or 46.53 billion dirhams.

As a result, exports improved by 6.7% to reach 101.25 billion dirhams during the same period, while imports increased by 8.3% to 54.71 billion dirhams.

In addition, the travel balance is down 6.7%, due to the decline in travel receipts of 6.1% to 24.74 billion dirhams at the end of September. In parallel, travel expenses, for their part, fell by 4.7%.