Fund transfers made by Moroccans living abroad totaled 100.29 billion dirhams (MMDH) during the first ten months of 2024, an increase of 3.9%, compared to the same period of the last year. This is indicated by the Foreign Exchange Office which published its latest statistics on foreign trade.
These shipments are thus continuing their upward trend that began several years ago. Thus, compared to their level recorded at the end of October 2020 (55.54 billion dirhams), they increased by more than 80%. In 2023, over the entire year, they experienced an increase of 4% to more than 115 billion dirhams.
Read also: Transfers from MREs exceeded 91 billion dirhams at the end of September
This trend is expected to continue. According to Bank Al-Maghrib projections presented last September, transfers from MREs should increase by around 3% to reach 121.8 billion dirhams in 2025.
Regarding travel receipts (spending by foreign visitors), they accelerated, showing growth of 9.3% at the end of last October, amounting to MAD 96.91 billion.
As for the travel expenses of Moroccans abroad, they remain on their momentum, increasing by 20% to 24.67 billion dirhams at the end of last October compared to the same period of 2023.
