Sri Lankan migrant workers have sent a record-breaking $5.4 billion in remittances during the first 11 months of 2023, according to the latest data released by the Central Bank of Sri Lanka (CBSL).
The CBSL data, released on Friday, revealed that in November alone, workers remitted $537.3 million, marking a significant 40% increase compared to the $384.4 million sent during the same month last year.
The data also showed that during the first 11 months of 2022, migrant workers had remitted a total of $3.3 billion. These remittances play a crucial role in boosting Sri Lanka's foreign revenues, serving as one of the main sources of income for the country.
The funds sent by migrant workers contribute significantly to the nation's economy and help support the livelihoods of their families back home.
Foreign Minister Ali Sabry informed parliament on Thursday that over 275,000 Sri Lankans had sought employment abroad by the end of November 2023.
This highlights the continuing trend of Sri Lankan citizens seeking work opportunities overseas. The surge in remittances is seen as a positive sign for the Sri Lankan economy, as it not only demonstrates the trust and commitment of migrant workers but also provides much-needed financial stability for their families and the country as a whole
