Moroccan Diaspora’s Transfers Surpass MAD 45 Bln at End of May – Exchange Office

28/06/2023

Casablanca – Remittances sent by Moroccans living abroad reached nearly 45.17 billion dirhams at the end of May 2023, compared to 39.29 billion dirhams in the same period the previous year, according to the Exchange Office.

This represents a growth of 14.9% (+5.87 billion dirhams) compared to May 2022, as reported in the Office’s monthly foreign trade indicators report.

Additionally, the balance of trade in services displayed a surplus, rising by 22.58 billion dirhams to 52.42 billion. This surplus was driven by a higher increase in exports (+43.3% to MAD 101.59 billion) compared to imports (+19.7% to MAD 49.16 billion).