2023-08-18 09:00:00
In 2022, Morocco recorded a historic peak in revenue from transfers from Moroccans residing abroad (MRE), reaching 110.7 billion DH, an increase of 16% compared to 2019, according to the latest report of the Foreign Exchange Office on the balance of payments.
When we look at the average annual growth rate (CAGR) over the period 2019-2022, it stands at 19.4%. The main countries emitting these receipts have seen their figures grow, notably France with +17.9% (or +5.4 billion DH), followed by Spain, Italy and Saudi Arabia.
To read: Remittances from Moroccans living abroad: a record and a breath of fresh air for Morocco
France retains its first place as the first sending country, representing 32.2% of total MRE receipts. It is closely followed by Spain (13.4%), Italy (11.5%) and Saudi Arabia (7.6%). However, one striking fact should be noted: over the last five years, Canada has posted the highest CAGR at +28%, even surpassing Spain and Italy.
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