Diaspora Remittances Reach $4 Billion in First Four Months of 2026

Marrakech – Remittances from Moroccans residing abroad (MRE) totaled MAD 39.98 billion ($4 billion) at the end of April 2026, up 9.8% from MAD 36.43 billion ($3.64 billion) in the same period of 2025.

The year-on-year increase amounts to MAD 3.55 billion ($355 million), according to the latest monthly bulletin from Morocco’s Office des Changes.

The rate represents a clear acceleration from the pace recorded over the full year of 2025, when MRE transfers grew 2.6% to reach MAD 122 billion ($12.2 billion).

Diaspora remittances remain one of Morocco’s most consistent sources of foreign currency, alongside tourism revenues and phosphate export earnings.

The bulletin also pointed to continued growth in the travel sector. Tourism receipts climbed 21.2% to MAD 44.39 billion ($4.44 billion), while spending abroad rose at a more modest 5.4% to MAD 9.84 billion ($984 million). The resulting travel balance surplus expanded 26.7% to MAD 34.55 billion ($3.46 billion).

The broader services balance reflected the same trajectory. Its surplus grew 16.4% to MAD 54.91 billion ($5.49 billion), with service exports advancing 13.9% and service imports rising 11.4%.

Foreign direct investment flows moved in the opposite direction. Net FDI into Morocco declined 10.1% to MAD 11.66 billion ($1.17 billion). Receipts fell 19.6% to MAD 16.09 billion ($1.61 billion), while expenditures dropped 37.2% to MAD 4.43 billion ($443 million).

Net Moroccan direct investment abroad, by contrast, jumped 41.9% to MAD 3.47 billion ($347 million), driven by a 22% rise in outward spending.

On the merchandise trade front, the deficit widened 18.4% to MAD 127.05 billion ($12.7 billion). Imports grew 12.7% to MAD 295.9 billion ($29.59 billion), led by capital goods (+21.8%), raw materials (+48.8%), consumer goods (+15.2%), and energy (+12%).

Exports advanced 8.7% to MAD 168.86 billion ($16.89 billion), with automotive (+18.6%) and aeronautics (+15.9%) driving gains. The trade coverage rate lost two points, settling at 57.1%.

The combined goods-and-services deficit stood at MAD 57.29 billion ($5.73 billion), up 25.6%. The overall coverage rate eased to 81.6% from 83.3%.