MOROCCO · ECONOMY
Key Facts
- What Morocco’s net foreign direct investment rose 58.4% to about 35.2 billion dirhams (US$3.8 billion) in nine months.
- Inflows and outflows Money coming in rose 21.8% to US$5.8 billion, while money going out fell 15.9% to US$2.0 billion.
- Why it matters Morocco is a US free-trade partner, and rising investment signals confidence in its export economy.
- Unknown The figures give no split by sector or investor country, and we could not open the original bulletin.
Published Monday, 2 November 2026, 4:15 a.m. ET · Source: Office des Changes data, Moroccan reports of 31 October
Foreign investment into Morocco surged in the first nine months of 2026. Falling outflows helped as much as rising inflows.
Foreign companies put far more money into Morocco than they took out in the first nine months of 2026. The Office des Changes, Morocco’s foreign exchange regulator, says the net flow of foreign direct investment (FDI) rose 58.4% to about 35.24 billion dirhams (US$3.8 billion).
Net flow means money coming in minus money going out. For US readers, the number is a gauge of how much foreign capital is backing Morocco, a North African country with a free-trade agreement with the United States since 2006.
Why the Net Flow Jumped
Receipts from foreign direct investment rose 21.8% to 53.44 billion dirhams (US$5.8 billion), from 43.88 billion dirhams (US$4.8 billion) a year earlier. Expenditures fell 15.9% to about 18.2 billion dirhams (US$2.0 billion), from 21.63 billion dirhams (US$2.4 billion).
The net flow a year earlier was 22.25 billion dirhams (US$2.4 billion), so the gain is nearly 13 billion dirhams (US$1.4 billion). By our calculation from these figures, about 74% of the gain came from higher receipts and about 26% from lower expenditures.
A 58.4% rise in the net flow therefore does not mean investment inflows grew at that pace. Receipts rose 21.8%, so part of the net gain reflects smaller outflows.
Moroccan Investment Abroad Also Grew
Morocco’s own investment abroad ran at a net outflow of about 6.2 billion dirhams (US$0.7 billion). Spending on those investments rose 43% to 19.13 billion dirhams (US$2.1 billion).
Receipts from sales of Moroccan investments abroad rose 16.5% to about 13 billion dirhams (US$1.4 billion). The two flows moved differently, with the sharpest rise in money coming into the country.
A Volatile Year So Far
The net flow was down 10.1% at the end of April, then up 41.8% at the end of May. It rose 58.5% by the end of July to 29.47 billion dirhams (US$3.2 billion), and 65% by the end of August to 34.334 billion dirhams (US$3.7 billion).
The comparison year was also strong: the net flow rose about 58% at the end of September 2025. The 2026 gain therefore builds on a high base rather than a weak one.
What It Means for US Readers
Steady foreign investment supports Morocco’s currency, its export industries and its role as a gateway to Africa for US companies. A fall in outflows can flatter the headline number, so investors will want the sector breakdown that the bulletin summaries omit.
Dollar values here use about 9.2 dirhams per US$, close to the market rate on 31 October 2026. The Office des Changes did not publish dollar values in the figures we reviewed.
What Is Not Known
We could not open the Office des Changes bulletin itself, so every figure comes from reports of it published in Moroccan business media on 31 October 2026. The release time in ET is not known, and the net flow is quoted as both 35.24 and 35.25 billion dirhams, probably because of rounding.
No sectors, investor countries or projects are named, and we found no government comment. The reports also do not explain why the net flow fell in April before recovering.
Our report on Morocco overtaking South Africa as an investment pick and our Morocco hub give more context.
Frequently Asked Questions
How much did Morocco’s foreign direct investment rise?
The net flow rose 58.4% to about 35.24 billion dirhams (US$3.8 billion) in the first nine months of 2026. A year earlier it was about 22.25 billion dirhams (US$2.4 billion).
What drove the increase?
Receipts rose 21.8% to 53.44 billion dirhams (US$5.8 billion), while expenditures fell 15.9% to about 18.2 billion dirhams (US$2.0 billion). By our calculation, about 74% of the gain came from receipts.
Sources: Office des Changes, monthly bulletin on external trade indicators, as reported 31 October 2026; Moroccan business media reports, 31 October 2026; earlier monthly releases, 2026; US Trade Representative, Morocco Free Trade Agreement (accessed 2 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