Morocco’s tourism revenue up 10% in January

Morocco’s tourism continues its impressive performance with 10% increase in receipts to 8.8 billion dirhams or 880 million dollars, the foreign exchange office said.

Remittances from Moroccans living abroad rose 0.5% to 950 million dollars in the first month this year.

Foreign direct investments jumped 24% to 500 million dirhams, helping attenuate the country’s current account deficit.

The trade deficit expanded 13.3% following a drop in exports by 2.4%, mainly the automotive sector whose sales decreased 10% and phosphates and derivatives -10%.

Energy imports decreased 11.6% to 850 million dollars.