“Direct investment operations recorded a debit balance up 6.4%. Net flows of foreign direct investment into Morocco thus far exceeded those of Moroccan direct investment abroad”, says the report, prepared in accordance with the 6th edition of the International Monetary Fund Manual (BPM6).
Revenues from these investments reached 39.6 billion dirhams (+21.6%), while expenditure rose by 46.3% to 17.8 billion dirhams, the same source points out.
The report also states that equity securities are the main component of inflows to Morocco, with a 54.2% share in 2022, reaching 11.8 billion dirhams in 2022 (-8.9%).
As for reinvested earnings, they have fallen by MAD 1 billion, to represent 8% of the total net flow of FDI to Morocco in 2022.
By sector, in terms of net flows, the manufacturing sector ranked first in 2022 (+9.5 billion dirhams or 43.5% of total net FDI flows to Morocco), followed by the real estate sector (MAD +5.5 bln or 25.1% of total net FDI flows), and then financial and insurance activities (MAD +2.4 bln or 11.2% of total net FDI flows).
These three sectors accounted for 79.8% of total net FDI flows in 2022 (49.6% one year earlier).
By country, the United States is the leading investor in Morocco in 2022, with a net inflow of +7.4 billion dirhams or 34.1% of total FDI. The net inflow from this country stood at MAD +0.7 bln in 2021, an increase of 6.7 billion dirhams.
Net FDI from France is reached +3.3 billion dirhams in 2022, compared with +7.4 billion dirhams in 2021, followed by Great Britain (+2.9 billion dirhams versus +2.3 billion dirhams), the United Arab Emirates (+2.5 billion dirhams) and the Netherlands (+1.5 billion dirhams).
These five countries accounted for 80.8% of total net foreign direct investment in Morocco in 2022, notes the report.
