(Ecofin Agency) - Morocco collected MAD3.6 billion ($360 million) in foreign direct investments (FDI) in January 2024, marking a 21% increase compared to the same month in 2023, data released on March 1 by the Moroccan Foreign Exchange Office showed.

However, remittances from the Moroccan diaspora saw a decrease of 2.6% in January 2024 compared to the same period last year, totaling MAD9.2 billion ($916 million), the same source noted.

The Moroccan Foreign Exchange Office also reported that the country's trade deficit narrowed by 15.3% year-over-year in January, reaching MAD22.44 billion ($2.2 billion). This improvement was attributed to a 2.8% decrease in imports and a 7.2% increase in exports.