The Central Bank of Sri Lanka (CBSL) has recently released data revealing that Sri Lankan migrant workers have remitted a staggering 5.4 billion U.S. dollars in the initial 11 months of 2023. This marks a significant surge from the 3.3 billion dollars recorded in the corresponding period of 2022.
In the month of November alone, the remittances reached 537.3 million dollars, reflecting a remarkable 40 percent increase compared to the 384.4 million dollars reported in the same month last year, as indicated by CBSL’s latest figures unveiled on Friday.
Migrant workers’ remittances hold a pivotal role as a primary source of foreign revenues for Sri Lanka. The sustained growth in remittance inflows underscores the vital contribution of overseas Sri Lankan workers to the nation’s economic stability.
As of the end of November 2023, Foreign Minister Ali Sabry informed the parliament that over 275,000 Sri Lankans had ventured abroad for employment opportunities, emphasizing the continued significance of foreign employment for the country’s workforce.
Source: Xinhua
