Moroccan citizens abroad sent home record remittances totaling 111.53 billion dirhams ($12.07 billion) through November 2025, representing 1.6% annual growth from 109.8 billion dirhams during the corresponding 2024 period, according to Exchange Office data. The steady increase demonstrates continued diaspora support for Morocco’s national economy despite ongoing global economic challenges.
Tourism sector recovery proved particularly notable. Travel revenues jumped to approximately 124.1 billion dirhams ($13.43 billion) by November’s end, compared with 104.5 billion dirhams in 2024’s corresponding period, representing 18.7% annual increase. Travel expenditures also rose 12.7% to 30.1 billion dirhams ($3.26 billion), reflecting higher tourist activity and the sector’s ongoing global market recovery.
The Exchange Office’s monthly foreign trade indicators report revealed Morocco’s trade deficit widened 22.4% to 328.8 billion dirhams ($35.58 billion), driven by 9.2% import growth reaching 725.34 billion dirhams ($78.52 billion). Exports increased modestly by 1.8% to 423.5 billion dirhams ($45.86 billion), reflecting persistent external demand pressures and competitive challenges in key sectors.
Contrasting with goods trade imbalances, Morocco’s services balance demonstrated strong performance with surplus exceeding 147 billion dirhams ($15.91 billion) during the first eleven months of 2025, rising 15.1% compared to 2024’s equivalent period. This improvement stemmed from 11.4% services export increases to 285.9 billion dirhams ($30.93 billion), outpacing 7.8% services import growth to 138.9 billion dirhams ($15.03 billion).
Combined robust remittances and travel revenues bolstered Morocco’s external accounts, helping cushion growing trade deficit impacts and rising import costs. These figures highlight key economic pillars’ resilience, reflecting Morocco’s capacity to reinforce balance of payments while navigating external economic headwinds. The diaspora’s financial contributions remain critical for maintaining external equilibrium amid challenging global trade conditions.
