Las remesas de la diáspora marroquí superan los 3.700 millones de dólares en mayo de este año

Remittances from Moroccans living abroad grew by almost $200 million, from $3.5 billion (MAD 36.47 billion) to $3.7 billion (MAD 38.31 billion) at the end of May this year, according to Morocco's Foreign Exchange Office.
 
An increase that, according to the bureau, stands at over 5%, with the trend continuing to rise in the Kingdom, with Moroccan diaspora money transfers in April 2022 increasing by 5.3% over the same month last year, standing at $3 billion ( 30.56 billion dirhams). 
 
This rise was also reflected in the 78.3% increase in the services trade balance in May, almost doubling the previous year's figure. A growth that has been evolving to reach 3 billion dollars (30.56 billion dirhams), a figure that in the same month of 2021 only reached 1.6 billion dollars (MAD 17.18 billion).

A development that, according to the bureau, is due, among other things, to the 44.8% growth in exports, reaching $6.6 billion (MAD 67.73 billion) and surpassing the significant increase of 25.3% that imports have also experienced.
 
But the positive news for the Moroccan economy does not end there; according to the report, spending fell to 527 million dollars (5.36 billion dirhams), well below the figure for the same month last year, which stood at 781 million dollars (7.94 billion dirhams).
 
This, coupled with the increase in travel receipts in May this year, almost doubling from $732 million (MAD 7.44 billion) to $1.2 billion (MAD 12.88 billion), has increased the surplus in the travel balance, considered the most important component of trade in services, by $1 billion (MAD 10.82 billion).
 
Notably, in January 2022, despite the pandemic situation in the country at the time, Morocco described 2021 as a record year for remittances. In fact, experts analysing this trend stated that never before had so much money been collected from these remittances from abroad.

This makes the figures so far for 2022 even more valuable, when the country's economic growth and remittances from the Moroccan diaspora are a fact of life in the Kingdom.
 
Abdallah Boussouf, secretary general of the Council of the Moroccan Community Abroad, said: "Moroccans are linked to their homeland in a metaphysical way, and cannot abandon it because they carry it in their hearts... They are a very important fundamental value for Morocco".
 
Statements reflecting the importance of remittances from Moroccans abroad, a community of great value in the receiving countries that does not forget its origins and stands out as a fundamental pillar for Morocco.