The Moroccans living abroad (MRE) sent more than 86.48 billion dirhams ($9.32 billion) as remittances by the end of November 2021, against 61.29 billion dirhams ($6.6 billion) in 2020, said the Office des Changes (exchange office).
These transfers are up 41.1 percent or 25.187 billion dirhams ($2.71billion), said the office in its bulletin on the monthly indicators of foreign trade in November.
This bulletin also reported a surplus in the balance of trade in services, up 5.9 percent to more than 59.94 billion dirhams ($6.46 billion).
Reportedly, exports improved by 9.1 percent to reach 127.5 billion dirhams ($13.74 billion) at the end of November 2021, and imports increased by 12 percent to over 67.55 billion dirhams ($7.28 billion).
Travel, the main component of trade in services, showed an almost stable surplus balance compared to the end of November 2020, and compared to November 2019, this balance recorded a net decline of 58.7 percent.
Travel revenues stood at 31.96 billion dirhams ($3.44 billion) at the end of November 2021, against 31.72 billion dirhams ($3.42 billion) at the end of November 2020 and 72.86 billion dirhams ($7.85 billion) during the same period of 2019.
Expenses stood at 9.8 billion dirhams ($1.06 billion) at the end of November 2021, against 9.58 billion dirhams ($1.03 billion) a year earlier and 19.26 billion dirhams ($2.07 billion) during the first 11 months of 2019.
