Morocco’s diaspora remittances fall by 3.7% amid shifting global trends

Remittances from the Moroccan diaspora dropped by 3.7% by the end of April 2025 compared to the same period in 2024, according to the latest data from the Exchange Office. The total volume of funds sent home fell from MAD 37.27 billion ($4 billion) to MAD 35.9 billion ($3.88 billion), marking a decrease of MAD 1.37 billion ($148.25 million).

Despite the decline, remittances remain a vital source of income for Morocco, contributing significantly to the national economy. The country remains the second-largest recipient of diaspora remittances in Africa, following Egypt.

His Majesty King Mohammed VI has repeatedly underlined the strategic importance of Moroccans residing abroad. In a speech delivered in November 2024, the King called for institutional reforms to improve the handling of diaspora affairs. “I have decided that mechanisms used in managing the affairs of Moroccans residing abroad should be revisited,” he stated, signaling a need for streamlined procedures and better administrative support.

In 2024, Morocco received over $11.7 billion in remittances, reflecting a 2.1% increase from 2023. However, monthly trends in 2025 have shown a reversal. In March, remittances had already declined by 6.2% compared to March 2024. In February, they stood at $1.85 billion, and in January, over $950 million reached Morocco through formal channels.

Global organizations continue to recognize Morocco's role in regional financial flows. The World Bank confirmed that Morocco is the second-largest recipient of remittances in the Middle East and North Africa after Egypt. Projections from the Bank suggest that this status will hold, with remittances expected to continue rising in the long term despite short-term fluctuations.

The reasons behind the decline in early 2025 remain multifaceted. They may include inflationary pressures in host countries, currency exchange fluctuations, or changing migration patterns. Yet, the broader outlook remains cautiously optimistic, with potential gains from digitization and improved support frameworks for Moroccans abroad.