Moroccans living abroad’s total transactions amounted to nearly MAD63 billion by the end of August of this year, compared to MAD43 billion in the same period of last year, representing an increase of 45.7%, according to the exchange office’s data.
The sum reached in the first eight months of this year is the highest compared to the past four years despite previous expectations of a decrease due to the economic crisis impacted by the COVID-19 pandemic.
This Community contributed to supporting Morocco’s balance of currency needed as well as importing goods and services to the country of origin, in addition to the arrival of many Moroccans living abroad to the country in the summer season.
Morocco is the second country in the Middle East and North Africa region in terms of transfers from its community abroad after Egypt, which is estimated to be more than 5 million Moroccans, most of them are located in Europe.
These transfers contribute to supporting the purchasing power of Moroccan families and help them bear living costs, health care, and basic needs as well as overcoming the current circumstance related to the pandemic, in which large groups of citizens are affected.
Moroccans in European countries are top of the list of immigrants who transfer currency to their home country by more than half, followed by immigrants in Arab countries and then North America.
Recently, the outcome of the air traffic increased during the summer season thanks to the arrival of Moroccans living abroad after flights were scheduled to enable them to return to Morocco during the period between June 15 and August 2021, whereby a total of 3,560,526 passengers were received through 31,202 flights.
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