Moroccan diaspora remittances surge to 91.5 billion dirhams by September 2024

Remittances from Moroccans living abroad (MRE) reached 91.52 billion dirhams (MMDH) by the end of September 2024, up from 86.99 MMDH in the same period the previous year, according to the Office des Changes. This marks a 5.2% increase (+4.53 MMDH) compared to the first nine months of 2023, as noted in the Office’s recent bulletin on monthly foreign trade indicators.

The bulletin also indicates a 2.9% decrease in the services balance surplus, bringing it to nearly 99 MMDH, due to a larger rise in imports of services (+16.4%) compared to exports (+6.2%).

Travel revenues exceeded 87 MMDH as of the end of September 2024, while travel expenditures reached 22.31 MMDH.