The remittances of Moroccan expatriates abroad amounted to nearly 81 billion MAD by the end of August 2024, compared to 77.96 billion MAD last year, according to the Office des Changes, Morocco’s foreign exchange regulator.
The amount represents a 3.9% increase (3 billion MAD) compared to the same period in 2023, the office said in its recent bulletin on monthly foreign trade indicators.
The office also reported a 2.8% decline in the services balance surplus, which amounted to 88.19 billion MAD. The decline is attributed to a 14.3% increase in service imports that outpaced a 5.3% rise in service exports.
Travel receipts stood at 76.40 billion MAD as of the end of August 2024, while travel expenditures were 19.80 billion MAD.