Transfers from Moroccans living abroad rose 9.8% to nearly 40 billion dirhams during the first four months of 2026, helping support Morocco’s foreign currency inflows as foreign investment slowed and the trade deficit continued to widen, according to the latest figures from the Office des Changes.
Remittances reached 39.98 billion dirhams by the end of April, up from 36.42 billion dirhams a year earlier, reinforcing their position as one of Morocco’s main sources of hard currency.
Tourism revenues also remained strong, with travel receipts rising 21.2% to 44.39 billion dirhams, while the travel balance surplus increased 26.7% to more than 34.5 billion dirhams.
The positive performance of remittances and tourism contrasted with weaker foreign direct investment inflows. Net FDI fell 10.1% to 11.65 billion dirhams, while gross investment receipts dropped nearly 20% to 16.08 billion dirhams.
At the same time, Morocco’s trade deficit expanded 18.4% to 127 billion dirhams as imports rose faster than exports. Imports increased 12.7% to 295.9 billion dirhams, driven by higher purchases of raw materials, equipment and consumer goods, while exports grew 8.7% to 168.9 billion dirhams.
The automotive industry remained Morocco’s leading export sector, with sales climbing 18.6% to 58.28 billion dirhams, while aerospace exports rose 15.9% to 11.03 billion dirhams. By contrast, exports of phosphates and derivatives, textiles and electronics declined during the period.
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