According to the Foreign Exchange Office, remittances sent by Moroccans living abroad rose by 2.2% from January to the end of September 2020, thus resuming the upward trend after having suffered a sharp decline during the period of sanitary confinement. However, according to the World Bank’s projections, remittances to the Kingdom are expected to drop by 5% during the current year.
In 2018, Morocco received $7.4 billion from its nationals living abroad, the World Bank revealed in a report published in April. The survey ranks Morocco among the top remittance recipients in MENA region.