Sri Lankans working abroad sent back US$ 573.0mn via official channels
- CNL Reporter
- February 10, 2025
- Banking and Financial
- Sri Lankans working abroad sent back US$ 573.0mn via official channels
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Remittances from Sri Lankans working abroad have continued to be strong providing much needed heft for the country’s strengthening external sector and thereby the broader economy.
According to the data available through January 2025, Sri Lankans working abroad had sent back US$ 573.0 million via official channels, up sharply from the US$ 487.6 million recorded in the same month last year. This translated into a 17.5 percent growth between the two periods.
This compares with the US$ 613.8 million the country received a month ago in December 2024, capping the full year receipts from remittances at US$ 6,575.4 million, up 10.1 percent from a year ago and also the highest since 2020.
December usually brings the second highest or the highest monthly remittance income for the country in a typical year as March, ahead of the traditional new year and also December are considered as peak months for such inflows.
The higher monthly remittance income on a year-over-year basis could also reflect the large number of Sri Lankans leaving Sri Lanka in search of better pastures.
