Moroccans expats send home record amounts in 2000

Published March 26th, 2001 - 02:00 GMT

Morocco’s biggest source of foreign income continues to be its citizens living abroad. According to the Moroccan Exchange Office, Moroccan nationals living abroad transferred home in 2000 a record $2.2 billion. 

 

The Moroccan expatriates appear to be a more effective generator of cash for the local economy than do tourists, who in 2000 had brought $ 2.13 billion into the country, 12 percent more than in 1999. 

 

The amount of money received from Moroccan living out of the country increased considerably during the second half of the 1990s. In 1995, the figure stood at $1.84 billion, and that rose 20 percent during the five years that followed. 

 

The Moroccan Exchange Office said that this trend is expected to continue into 2001, in accordance with the economic situation in the countries where expatriate Moroccans reside. — (Albawaba-MEBG)

© 2001 Mena Report (www.menareport.com)


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