Sri Lanka recorded a workers’ remittance of $544.4 million in May 2024, according to a recent report from the Central Bank of Sri Lanka.
Sharing details on ‘X’, Minister of Foreign Employment Manusha Nanayakkara acknowledged that the figures reported for May was a notable increase of 13.5 per cent compared to the corresponding period last year.
Official data indicates that remittances during the first five months of the year totalled $2,624.4 million, marking an 11.8 per cent rise from the same period in the previous year.
Sri Lanka recorded a workers’ remittance of US$ 488 million in January 2024, an increase in comparison to the US$ 437 million reported in January 2023.
Meanwhile, a 16% increase in foreign remittances, amounting to US$ 476.2 million, was reported in February 2024 compared to the same period last year.
In March 2024, Sri Lanka’s workers’ remittances increased to US$ 572.4 million compared to the same period last year.
Foreign remittances reached US$ 543.8 million in April 2024, marking a 19.7% increase compared to the same period in 2023.
According to the Central Bank of Sri Lanka, the continuous surge has been attributed to a greater number of expatriates utilising official banking channels. (Newswire)