Morocco’s net foreign direct investment flows amounted to 31.82 billion dirhams ($3.35 billion) at the end of November, an increase of 36.7 percent compared to the same period last year.
This increase resulted from a 37.6 percent rise in the volume of incoming investments to the country during this period amounting to 42 billion dirhams ($4.4 billion), according to the country’s Foreign Exchange Office.
Meanwhile, the value of Moroccan investments abroad increased by 40.5 percent during the period and reached 10.2 billion dirhams ($1.07 billion) at the end of November.
This increase in the value of foreign investment flows contributed to covering Morocco’s external deficit during this period that was exacerbated by the worsening trade balance deficit by 7.7 percent during this period in addition to the decline in remittances by 1.7 percent and the decline in tourism receipts by 1.8 percent.
Morocco’s exports of goods increased by 9.7 percent during the period, reaching 249 billion dirhams ($26.2 billion) by the end of November, said the office.
Its imports, however, increased by 8.8 percent at 435.4 billion dirhams ($45.8 billion) during the same period.
Although the rate of export growth was higher than that of the imports during this period and contributed to a 57.2 percent increase in the coverage of imports and exports, yet the increase in imports in terms of absolute value was greater than the increase in exports, which aggravated the trade deficit by 7.7 percent to reach 186.4 billion dirhams ($19.6 billion) by the end of November.
Remittances from migrants reached 59.65 billion dirhams ($6.28 billion) during the period, falling by 1.7 percent.