Morocco’s official reserve assets amounted to 316.6 billion dirhams until December 25, 2020, up by 25.9% compared to the same period in 2019, Morocco’s central bank (Bank Al-Maghrib) has said.
Total reserves in months of imports amounted to 7 months and 4 days by the end of November 2020, compared to 5 months and 9 days at the same period in 2019, according to BAM’s weekly indicators.
Foreign trade data at the end of November 2020 showed a 15.9% drop in imports and an 8.4% decrease in exports, compared to the same period in 2019, which represents a trade deficit of 138.8 billion dirhams, the same source added.
Travel receipts totaled 30.8 billion dirhams (-57.7%), while remittances sent by Moroccans living abroad amounted to 61.9 billion dirhams (+3.9%).
Regarding the main financial transactions, the net inflow of foreign direct investment decreased by 20% to 13.8 billion dirhams, due to a 7.1 billion dirhams decrease in revenues and a 3.7 billion dirhams drop in sales.
The net inflow of direct investment by Moroccans living abroad fell by 54.2% to 3.9 billion dirhams, following a 1.5 billion dirhams increase in income and a 3.2 billion dirhams decrease in investment expenditure.
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