MOROCCO · REMITTANCES
Key Facts
- What is happening Moroccans abroad sent home about US$10.5 billion in nine months, up 11.3% from a year earlier.
- Why it matters These transfers exceed Morocco’s net tourism surplus of about US$9.0 billion for the same nine months.
- The numbers Growth rose from 9.0% at end-August to 11.3% at end-September, on about US$9.4 billion a year earlier.
- Who is who The Office des Changes, Morocco’s foreign-exchange regulator, records transfers by Moroccans residing abroad, known as MRE.
- What to watch The October bulletin, normally published about a month later, will show whether the pace holds.
- What it means for you Steady diaspora inflows give Morocco foreign currency to pay for imports, a point for US exporters and investors.
Money sent home by Moroccans living abroad keeps rising. The official total reached about US$10.5 billion in nine months.
Moroccans living abroad sent home more than 103 billion dirhams (about US$10.5 billion) in the first nine months of 2026. The Office des Changes, Morocco’s foreign-exchange regulator, says that is 11.3% more than a year earlier.
For US readers, the figure shows how much foreign currency reaches Morocco from its citizens overseas, on top of exports and tourism. It matters to anyone who trades with, invests in or travels to Morocco.
Conversions use the Bank Al-Maghrib reference rate of 30 October 2026, the latest published, of US$1 to 9.81 dirhams. Amounts are rounded.
What the Remittance Numbers Show
Transfers passed 103 billion dirhams (about US$10.5 billion) at the end of September. A year earlier the total was 92.62 billion dirhams (about US$9.4 billion).
The pace picked up in recent months. At the end of August the total was 89.2 billion dirhams (about US$9.1 billion), up 9.0% from 81.8 billion (about US$8.3 billion).
Arithmetic from those cumulative totals suggests September alone brought roughly 13.8 billion dirhams (about US$1.4 billion). The same month of 2025 brought about 10.8 billion (about US$1.1 billion).
Tourism and Investment Also Rose
Travel receipts, the money foreign visitors spend in Morocco, rose 12.1% to about 115.26 billion dirhams (about US$11.7 billion). Travel spending abroad by Moroccans rose 8% to 26.96 billion dirhams (about US$2.7 billion).
The net result, a surplus of about 88.3 billion dirhams (about US$9.0 billion), is 13.4% higher. Diaspora transfers are therefore larger than the whole net tourism gain.
Net foreign direct investment, money foreign companies put into Morocco after withdrawals, rose 58.4% to about 35.24 billion dirhams (about US$3.6 billion). Diaspora transfers were nearly three times that inflow.
Who Counts as an MRE
MRE stands for Marocains résidant à l’étranger, meaning Moroccan citizens who live abroad. Their transfers are a large source of foreign currency for the Moroccan economy.
The Office des Changes publishes the figures in a monthly bulletin on external transactions. The published summary does not split transfers by the country the money came from.
What It Means for You
US exporters and investors can read the figure as a sign that Morocco keeps a steady supply of foreign currency for imports. It says little about household incomes or living costs, which the bulletin does not measure.
Moroccan-Americans who send money home are part of this flow, though the share from the United States is not published. The Rio Times explainer on the Morocco diaspora in the United States sets out who they are.
Related Rio Times reports include Morocco’s Dirham Drops 6.5% Against Dollar Since August and Foreign Powers and Investors in Morocco 2026. More coverage sits on the Morocco hub.
What Is Not Known
The bulletin summary does not say which countries the money came from or how much came from the United States. It also does not say whether cash carried home in person is counted.
The final 2026 total is not known, and the Office can revise earlier months. The September-only figures above are simple arithmetic, not an official monthly number.
What Comes Next
The next monthly bulletin will carry the October figures, normally about a month after the September release. That will show whether growth stays above 11%.
The figures do not predict the full-year total, and they do not show how much of the money is spent or saved. Only later bulletins and Bank Al-Maghrib, the central bank, data can say more.
Frequently Asked Questions
How much did Moroccans abroad send home in 2026?
More than 103 billion dirhams (about US$10.5 billion) in the first nine months, up 11.3% from a year earlier. The Office des Changes, Morocco’s foreign-exchange regulator, published the figure.
What does MRE mean?
MRE stands for Marocains résidant à l’étranger, meaning Moroccan citizens living abroad. The term covers the diaspora whose transfers the Office des Changes counts.
Are remittances bigger than Morocco’s tourism earnings?
Transfers of about US$10.5 billion exceed the net tourism surplus of about US$9.0 billion. Gross travel receipts, at about US$11.7 billion, are higher than transfers.
Where does the money come from?
The bulletin summary does not break transfers down by country. The share from the United States is not published.
Sources: Office des Changes, Morocco, monthly bulletin on external transactions, data to end-September 2026; Bank Al-Maghrib, central bank of Morocco; Bank Al-Maghrib, reference exchange rate of 30 October 2026 (all accessed 1 November 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief