Agadir24 | Agadir24/A.M.E
The Exchange Office reported that remittances by Moroccans living abroad reached a record level in 2023, amounting to 115.3 billion dirhams, compared to 110.8 billion dirhams in 2022, an increase of 4.1 percent.
The office highlighted, in its annual report on the balance of payments and international investment position of Morocco, that the average annual growth rate of these transfers during the period 2020-2023 amounted to 19.2 percent.
The report indicated that the increase in remittances from Moroccans living abroad included a number of major countries of residence, namely the Kingdom of Saudi Arabia (plus 47 percent or plus 3.9 billion dirhams), the United Arab Emirates (plus 24.8 percent or plus 1 billion dirhams), and the United States of America (plus 11.3 percent or plus 0.7 billion dirhams).
In terms of share, France remains the main source of these remittances with a share of 30.8 percent of total remittances from Moroccans living abroad, followed by Spain (12.6 percent), Saudi Arabia (10.7 percent) and Italy (9.2 percent).
Over the past five years, remittances from Moroccans residing in Canada have achieved the highest average annual growth rate of +37 percent, followed by Saudi Arabia (+27.2 percent) and then Spain (+26.2 percent).
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2024-08-11 01:56:53
