Remarkable Growth in Moroccan Remittances
In a significant boost to Morocco's economy, remittances from Moroccans living abroad soared to an impressive 74.78 billion dirhams by the end of July 2026. This figure represents an 8.1 percent increase compared to the 69.17 billion dirhams recorded during the same period last year, as detailed in the latest external trade bulletin released by Morocco's Foreign Exchange Office. This upward trend in remittances underscores their vital role as one of the key sources of foreign currency inflows for the country, reflecting the continued financial support from the Moroccan diaspora.
Travel Balance Surplus and Economic Indicators
The bulletin further revealed that the travel balance posted a surplus of 59.08 billion dirhams, marking a 15.7 percent year-on-year growth. This remarkable improvement is attributed to travel receipts that have outpaced travel-related expenditures. Specifically, travel receipts rose by 13.4 percent to reach 79.009 billion dirhams within the first seven months of the year, while travel-related spending only increased by 7.3 percent, amounting to 19.92 billion dirhams. The widening gap between these two figures highlights the strength of Morocco's tourism sector, which, alongside remittances, is crucial to the country's external trade dynamics.
The consistent growth observed in both remittances and tourism receipts during the initial seven months of 2026 indicates robust economic performance. The Foreign Exchange Office emphasizes these flows as essential components in monitoring Morocco's external trade position, showcasing sustained year-on-year progress. The monthly bulletins issued by the Office serve as a key resource for tracking the status of Morocco's external accounts, providing valuable insights into remittances, tourism receipts, and various other financial flows.
As reported by northafricapost.com.
