Workers’ remittances improve in first half of 2023

Sri Lanka’s workers’ remittances in the month of June 2023 were recorded at USD 475.7 million, according to the latest figures from the Central Bank of Sri Lanka (CBSL). 

Accordingly, the cumulative figure for the first six months of the year (Jan – June 2023) is USD 2,822.6 million, which is an increase of 75.3% from the corresponding period of the previous year. 

Workers’ remittances have been a key pillar of Sri Lanka’s foreign currency earnings providing a substantial cushion against the widening trade deficit and thereby enhancing the external sector resilience of the country.