Remittances from Sri Lankan migrant workers surpassed US$5.3 billion in the first seven months of the year, marking a substantial year-on-year increase, according to Central Bank data.
Sri Lanka's migrant worker remittances have reached US$5.3824 billion during the January to July period, representing a considerable rise from the same timeframe last year. The Central Bank of Sri Lanka reported that this figure exceeds the US$4.4352 billion recorded during the corresponding months in 2023, reflecting an increase of approximately US$947.2 million.
The monthly trend shows continued inflow momentum, with July alone receiving US$777.6 million in remittances. This represented a slight uptick compared to June's US$697.3 million, indicating sustained contributions from overseas workers during the middle of the year.
Remittance income remains a critical revenue source for Sri Lanka's foreign exchange reserves and household finances, particularly in communities with significant migration patterns. The steady growth in remittance inflows during the first seven months of the year reflects ongoing financial support from Sri Lankan workers employed abroad.
