the transfer of money to morocco

[sbs]

These transfers amounted to 671 million euros against 607 million one year before. Compared to the average of the receipts at five last years at the end of February, that is to say 539,5 million euros, those of 2006 increased by 24,4% or +131,5 million euros.

The Foreign exchange bureau, which raises of the Moroccan ministry of Finances, explains this result by the rise of the receipts of the transfers out of banknotes (+32,9% or +53,96 million euros) and in credit transfers (+7% or +29,04 million euros).

On the other hand, the receipts in postal transfers regressed of 64,1% or -19,85 million euros, according to the same source.

Some 5,5 million Morrocans live abroad, that is to say about 16% of the population. A great majority of them in Europe (including more than 1400.000 in France, 600.000 in Spain, 350.000 in the Netherlands, 420.000 in Italy,510.000 in Belgium and 380.000 in Germany).

They are also 400.000 in the Arab countries, 260.000 in the United States, 200.000 in Canada, 75.000 in Africa,180.000 in the uk and 93.500 in Asia and Oceania.

The financial transfers of the members of the diaspora place Morocco at the fourth position on a world level among the receiving countries after , Mexico and the Philippines.