August 11, 2022

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Moroccan direct investments abroad: net outflow of Dh1.56 billion at end-May

The net flow of Moroccan direct investment abroad (IDME) continues to increase. According to the latest data from the Foreign Exchange Office at the end of May, the net flow of IDMEs increased by 12.4% to 173 million dirhams compared to the same period of the previous year.

This stood at Dh1.56 billion at the end of May, compared to Dh1.39 billion in the same period a year earlier. In detail, this flow resulted from investment of 7.08 billion dirhams, a decrease of 2.5% from the previous year. These investments brought in 5.51 billion dirhams, down 6.1%. Overall, Moroccan direct investment abroad shows a slowdown compared to the dynamics seen a year ago.

France, the Netherlands and Burkina Faso are the top destination countries

If we refer to the Foreign Exchange Office’s provisional data for the first quarter of the previous year, three countries captured the majority of the net flow of IDMEs at the end of March. Let us first mention France. The flow of IDMEs made in France at the end of March was 738 million dirhams against 1.44 billion dirhams in 2021. Moroccan direct investments in the Netherlands rose to 533 million dirhams against 38 million dirhams a year ago. The flow of ITMEs in Burkina Faso rose to Dh105 million against Dh307 million previously. Côte d’Ivoire ranks 4th in the IDME destination country rankings.
86 million dirhams at the end of March and 1.24 billion dirhams at the end of 2021.
Moroccan investments in the Congo reached 85 million dirhams at the end of March 2022, while they were 63 million dirhams in 2021.
IDMEs have a flow of 70 million dirhams in Great Britain, 69 million dirhams in the United Arab Emirates and 48 million dirhams in Gabon and Mali.

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Most of IDME is captured by manufacturing industries

Sector-wise, manufacturing industries still top the list of functional branches. IDME inflow was 1.16 billion dirhams against 2.09 billion dirhams in 2022. The flow is driven by the chemical industry (+524 million dirhams), automobile manufacturing (529 million dirhams) and trade, automobile and motorcycle repair (110 million dirhams). ) production of non-metallic mineral products monopolized Dh73 million of the overall flow of IDMEs in the first quarter of this year. Extractive industries, for their part, capture flows of Dh98 million. Similarly, 21 million dirhams are earmarked for IDME agriculture, forestry and fisheries. The same figure was paid in the construction sector, including 16 million dirhams in building construction, 4 million dirhams in civil engineering and 1 million dirhams in special construction works. Referring to data from the Foreign Exchange Office, IDME only has 5 million dirhams for real estate activities. This flow is estimated to be around 199 million dirhams in 2021. The Foreign Exchange Office notes a negative flow of 238 million dirhams in the information and communication sector. It must be recalled that the net flow of IDMEs decreased in the first quarter of this year to 1.62 billion dirhams against 4.55 billion dirhams in 2021. This is coming from revenue of 3.42 billion dirhams against 5.05 billion dirhams.