Transactions of Moroccans living abroad reached over MAD 71.42 billion during the first eight months of this year, up compared to nearly MAD 64.19 billion recorded during the same period of 2021, according to the Foreign Exchange Office.
Transactions have shown an increase of 11.3% (MAD +7.23 billion) compared to the same period of the previous year, said the Office which has just published its monthly indicators of foreign trade for August.
The data also showed a rise in the trade deficit of 56.1% to reach MAD 214.76 billion, with an increase in imports of 44.8% and exports of 37%, added the same source.
The net flow of foreign direct investment (FDI) increased by 67.9% to MAD 19.57 billion by the end of June-August.
By the end of August 2022, Foreign Direct Investment (FDI) recorded an increase of 35.9%, equivalent to MAD 7,062 million, reaching MAD 26,734 million at the end of August compared to MAD 19.672 million at the end of August 2021.
Expenses on the other hand showed a decrease of 10.7% or MAD -856 million, added the same source.
The net flow of FDI increased by 67.9% or MAD +7.918 million, from MAD 11.657 million at the end of August 2021 to MAD 19.575 million at the end of August 2022.
During the first eight months of 2022, Moroccan direct investments abroad totaled MAD 11.941 million, showing a drop of 2.5%, equivalent to MAD -303 million compared to the same period of the previous year.
The transfers of these investments reached MAD 8,137 million, down by 17.3%, equivalent to MAD -1,702 million, added the exchange office.
The net flow of those Moroccan direct investments abroad increased by 58.2%, or MAD 1,399 million, according to the same source.
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