Sharp increase in Travel revenue in the first half

These revenues increased to more than 27.29 billion dirhams (MMDH) in the 1st half of 2022, against 8.91 billion dirhams, a year earlier, according to the Foreign Exchange Office. Compared to the same period of 2020, travel receipts increased by 29.6%, said the Office which has just published its monthly indicators of foreign trade for the month of June, noting that on the other hand , these revenues fell by 18.6% compared to the end of June 2019. Expenditure, meanwhile, stood at 7.178 billion dirhams. This level remains lower than those recorded in 2018 (8.852 billion dirhams) and in 2019 (9.441 billion dirhams), years before the Covid-19 crisis. At the end of June 2022, the balance of trade in services posted a surplus up by 78.7%, reaching +39.63 billion dirhams against +22.181 billion dirhams. This increase follows an increase in exports (86.73 billion dirhams against 58.164 billion dirhams, or +49.1%) greater than that of imports (+30.9%), explains the Office. Thus, the excess travel balance stood at +20.12 billion dirhams at the end of June 2022, against only +4.83 billion dirhams a year earlier.