Remittances from Moroccans residing abroad recorded a notable increase, reaching 100.29 billion dirhams at the end of October 2024, compared to 96.51 billion dirhams during the same period last year, according to the Moroccan Exchange Office.
The monthly report on external exchange indicators showed a 3.9% increase in remittances, equivalent to 3.78 billion dirhams compared to the first ten months of 2023.
The services balance surplus slightly declined by 1.2% to reach 111.26 billion dirhams, due to a 16.6% increase in service imports, which is higher than the 7.3% growth in exports.
Regarding travel revenues, they reached approximately 96.92 billion dirhams at the end of last October, compared to 88.63 billion dirhams a year ago. Travel expenses were recorded at 24.68 billion dirhams, with a 20% increase.
The travel sector surplus improved by 6.1% to reach 72.24 billion dirhams at the end of October 2024, reflecting the positive performance of the tourism sector and financial transfers from Moroccans abroad.