Workers’ remittances significantly improve in Feb. 2023 compared to previous year

(LANKAPUVATH | COLOMBO) – Sri Lankan migrant workers’ foreign remittances amounted to a total of USD 407 million in February 2023, the Central Bank of Sri Lanka (CBSL) says.

According to the central bank’s figures, foreign remittances had amounted to only USD 205 million in February last year.

Sri Lanka registered over USD 400 million in migrant workers’ remittances in the first two months of this year, with the figure reaching USD 437.5 million in January.

Meanwhile, earnings from merchandise exports on year-on-year basis have declined by 10.2 percent in February 2023, amounting to USD 982 million.

The total departures for foreign employment were meanwhile recorded at 23,974 during the month of February 2023.

Total departures of foreign employment comprised unskilled (7,662), domestic aid (6,939) and skilled (6,582) categories.

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