Morocco’s FDI surges 43.4% to $3.9 billion through August
Morocco’s foreign direct investment inflows jumped 43.4% to 39.27 billion dirhams ($3.9 billion) through August 2025, according to Foreign Exchange Office monthly indicators. This performance significantly strengthens the recovery initiated in 2024, demonstrating renewed international investor confidence in Moroccan economic prospects.
Investment flows have fluctuated considerably since 2021, when they totaled 20.12 billion dirhams. FDI surged to 27.43 billion dirhams in 2022 before declining to 22.73 billion dirhams in 2023. The 2025 record level reflects diversification across attractive sectors and strengthened strategic partnerships.
Between 2015 and 2025, FDI displayed fluctuation but generally positive evolution. After reaching 39.9 billion dirhams in 2015, flows declined for two years before rebounding to peak at 46 billion dirhams in 2018, an unprecedented summit. Subsequent periods showed retreat followed by 2022 recovery at 40.3 billion dirhams and 2024 growth to 43.8 billion dirhams, the decade’s second-best performance.
France maintains its position as Morocco’s leading foreign investor, representing approximately 31% of 2024 FDI totaling over 13.5 billion dirhams, primarily directed toward industry, real estate, and tourism sectors. Ireland briefly captured first place in 2018 with 9.65 billion dirhams versus France’s 7.7 billion dirhams.
The United Arab Emirates achieved historic breakthrough in 2024, becoming the leading investor in net capital flow terms with 3.1 billion dirhams representing 18.9% of total flows, surpassing traditional European partners. This emergence illustrates growing Gulf capital interest in Morocco, particularly within real estate and manufacturing industries.
Industry dominates sectoral FDI distribution, concentrating over 37% of 2024 flows totaling 16.4 billion dirhams. Real estate ranks second at 9.6 billion dirhams, followed by commerce at 2.9 billion dirhams, energy and mining at 2.4 billion dirhams, and tourism at 1.8 billion dirhams.