Workers’ remittances and earnings from tourism continued to improve in February 2023, the Central Bank of Sri Lanka reported today.
The CBSL stated that registering over US dollars 400 million level for the second consecutive month this year, workers’ remittances recorded US dollars 407 million during February 2023, in comparison to US dollars 205 million reported in February 2022.
Total departures for foreign employment were recorded at 23,974 during February 2023. Total departures of foreign employment comprised unskilled (7,662), domestic aid (6,939) and skilled (6,582) categories.
In January 2023, workers’ remittances recovered to USD 437 million in comparison to USD 259 million in the corresponding month in the previous year.
Total departures for foreign employment were recorded at 24,236 during January 2023. Total departures of foreign employment comprised unskilled (7,556), skilled (7,283) and domestic aid (6,120) categories.
The CBSL further stated that tourist arrivals increased in February 2023 to 107,639, compared to 102,545 arrivals recorded in January 2023 and 96,507 recorded in February 2022.
Russia, India, the United Kingdom, Germany, and France remained the main source countries for tourist arrivals in February 2023.
Earnings from tourism in February 2023 are estimated at US dollars 170 million, in comparison to US dollars 162 million in the previous month and US dollars 169 million in the corresponding month in the previous year.
In January 2023, tourist arrivals showed an increase to 102,545, compared to 91,961 arrivals recorded in December 2022 and 82,327 recorded in January 2022.
Russia, India, the United Kingdom, Germany, and Australia remained the main source countries for tourist arrivals in January 2023.
Earnings from tourism in January 2023 were estimated at USD 162 million, in comparison to USD 127 million in the previous month and USD 152 million in the corresponding month in the previous year.
Furthermore, the deficit in the merchandise trade account narrowed significantly to US dollars 39 million in February 2023, from US dollars 780 million in February 2022, mainly reflecting the impact of significant moderation of import expenditure due to subdued aggregate demand conditions.
Full statement: https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20230331_external_sector_performance_february_2023_e.pdf (NewsWire)
