Workers' remittances in Sri Lanka have reached a new milestone, nearing the US$ 4 billion mark.
According to recent data released by the Central Bank, there has been a significant increase of 74 percent in remittances during the first eight months of 2023 compared to the same period last year.
In August 2023 alone, workers' remittances amounted to US$ 499.2 million, a substantial rise from the US$ 325.4 million received in August 2022.
Nevertheless, it is worth noting that this figure is still below the average of US$ 584 million for the month of August between 2015 and 2020. For the period of January to August 2023, the cumulative remittance income stood at US$ 3,862.7 million, a significant increase from the US$ 2,214.8 million recorded during the same period in 2022. This translates to a remarkable growth of 74.4 percent.
