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Moroccan Diaspora Remittances Reach $11.7 Billion in 2024


Remittances from Moroccans living abroad totaled MAD 117.7 billion ($11.7 billion) in 2024, marking a 2.1% increase from the previous year, according to data from the Moroccan Exchange Office.

In 2023, remittances stood at MAD 115.26 billion ($11.4 billion), highlighting the growing importance of diaspora contributions to Morocco’s economy. The government has been working to encourage Moroccans residing abroad (MREs) to invest more in their home country.

King Mohammed VI has also emphasized the need to streamline administrative processes for the diaspora. “I have decided that mechanisms used in managing the affairs of Moroccans residing abroad should be revisited,” the King said in November 2024, announcing reforms to improve institutional support for MREs.

Beyond remittances, Morocco’s Foreign Exchange Office reported a significant rise in foreign direct investment (FDI), which reached MAD 17.23 billion ($1.7 billion) in 2024—a 55.4% increase from the previous year. FDI revenues climbed by 24.7% to MAD 43.19 billion ($4.2 billion), while expenses grew by 10% to MAD 25.96 billion ($2.6 billion).

However, net Moroccan direct investment abroad declined by 23.2% to MAD 6 billion ($596.9 million). Despite this, revenues from selling such investments rose by 4% to MAD 17.78 billion ($1.7 billion), while expenses dropped by 5% to MAD 24.89 billion ($2.4 billion).


These financial trends reflect Morocco’s evolving economic landscape, with remittances and foreign investments playing a crucial role in its growth.


Morroco 11.7 billion dollars make it this country with the third highest remittance in 2024 After Nigeria.






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