The Moroccan Exchange Office (currency exchange office) revealed that remittances from Moroccans living abroad reached approximately 17.3 billion dirhams ($1.73 billion) in February, compared to 13.45 billion dirhams ($1.34 billion) a year ago. In a document on the monthly indicators of foreign trade for the month of February, the bureau disclosed that these remittances recorded an increase of 28.6 percent (plus 3.84 billion dirhams) compared to February 2022.
According to the Office des Changes, net foreign investment inflows rose to about 3.37 billion dirhams ($337 million) at the end of February 2023, recording an increase of 53.6 percent compared to the same period last year. Revenues from foreign direct investment increased by 19.8 percent to AED 5.03 billion (US$ 503 million), while expenditures recorded a decrease of 17.2 percent.
The bureau recorded a surplus in the balance of services exchanges, which increased by more than AED 13.51 billion ($ 1.35 billion), revealing that this increase resulting from the increase in exports (plus 88.3 percent, equivalent to AED 37.65 billion/$ 3.76 billion) is much greater than that recorded by imports (plus 31.4 percent, equivalent to AED 17.31 billion/$ 1.73 billion).
Source (Asharq Al-Awsat Newspaper, Edited)
