According to the most recent data from the Central Bank of Sri Lanka (CBSL), the amount of remittances sent by Sri Lankan employees in the month of May 2023 was $479.7 million.
In light of this, the total amount for the first five months of the year (Jan. – May. 2023) is USD 2,346.9 million, an increase of 75.7 percent from the same time last year.
Remittances from employees have been a crucial component of Sri Lanka’s foreign exchange profits, acting as a sizable buffer against the expanding trade deficit and strengthening the country’s external sector resilience.
