Morocco foreign exchange reserves exceed 500 billion dirhams

Morocco's foreign exchange reserves have surpassed 500 billion dirhams (approximately 54 billion USD) for the first time, according to data from Bank Al-Maghrib. This represents a more than 21 percent increase compared to the same period last year, providing enough coverage for over five months of imports for goods and services.

Several key economic drivers contributed to this growth. Net foreign direct investment reached a record 29.4 billion dirhams between January and July, marking a 58.5 percent annual increase. Industrial exports also saw significant gains, particularly in the automotive sector, which reached 107.1 billion dirhams (up 14.9 percent), and the aerospace sector, which rose 19.7 percent to 20.5 billion dirhams.

Additionally, tourism revenues exceeded 79 billion dirhams by the end of July, a 13.4 percent annual increase. Remittances from Moroccans living abroad also grew by over 8 percent, totaling approximately 74.7 billion dirhams. According to International Monetary Fund data, these remittances accounted for roughly 7.2 percent of the national GDP in 2025. Projections suggest reserves could reach 505 billion dirhams by the end of this year and approximately 542 billion dirhams by 2027.