Morocco’s Expat Remittances Up 4% to $ 11.5 Billion in 2023

03 February 2024 Printable Version

Rabat - Remittances from Moroccans expatriates stood at nearly 115.15 billion dirhams ($11.5 billion) in 2023, a 4% increase compared to 2022, according to the Foreign Exchange Office.

Last year, the balance of trade in services recorded a surplus up 16.3% to 134.69 billion dirhams, the Office pointed out in its monthly indicators of foreign trade.

This performance is driven by a 15.8% increase in exports to 260.66 billion dirhams (225.14 billion dirhams in 2022), greater than imports (125.97 billion dirhams compared to 109.33 billion dirhams, or +15.2 %), the same source noted.