Moroccan expatriates' remittances,

[mister2002]

Moroccan expatriates' remittances, tourist receipts up (January-October 2007)

Rabat, Dec. 4 - Moroccan expatriates' remittances and tourist receipts posted, over the period January-October 2007, respectively a 16.6% and 12.8% rise compared to the same period of the previous year, according to figures released by the Office des Changes (Exchange Office).

Tourist receipts totaled, by late October, some USD 6.3Mn as against USD 5.5Mn in the same period of 2006. Compared with the average of receipts by the end of October over the period 2002-2006, i.e. USD 4Bn, receipts rose by 55.1%.

As to Moroccan expatriates' remittances, they totaled, up to October 2007, some USD 5.9Bn, against USD 5Bn during the same period of 2006.

Compared with the average of remittances during the same period of 2002-2006, which is USD 4.1Bn, these remittances increased by 42.9%.

Direct investments contributed 86.9% of the total of these receipts, and portfolio investment and private loans 10.5% and 2.6% respectively.

The office also released figures regarding call centers’ receipts, which amounted to USD 259Mn against USD 198Mn in the same period of the previous year, that is +36.9%.