The United Arab Emirates emerged as Morocco's top investor in 2024, accounting for 18.9% of the total net flow of foreign direct investment (FDI), according to the Office of Foreign Exchange. Net inflows from the UAE rose by 57.8% to 3.1 billion dirhams (MMDH), the Office detailed in its report on Morocco's 2024 Balance of Payments and Global External Position. Germany ranked second with 2.1 billion dirhams, up from 1.4 billion a year earlier, followed closely by China, which invested 2.05 billion dirhams. Overall, Morocco's net FDI surplus improved by 5.6 billion dirhams, reaching 16.3 billion in 2024. This growth was driven largely by a sharp rebound in debt instruments, which nearly quadrupled (+7.2 billion dirhams), combined with a 14.9% increase in equity securities. Reinvested earnings, however, fell slightly by 0.6 billion dirhams, settling at 2.1 billion. In terms of sectoral distribution, real estate led the way, attracting 45.4% of total FDI inflows, just ahead of manufacturing industries at 45.2%. The report also shows that Morocco's FDI revenues climbed 10.2% to 43.8 billion dirhams, while expenditures fell 5.3% to 27.5 billion dirhams.
