Latest data from the Central Bank of Sri Lanka reveals a remarkable increase in foreign remittances, reaching an all-time high due to a significant rise in funds sent by Sri Lankan expatriates.
In September, Sri Lankan overseas workers remitted an impressive USD 695.7 million, marking a substantial 25.2% increase compared to USD 555.6 million received in September of the previous year.
Furthermore, for the first nine months of this year (January to September), foreign remittances totaled USD 5.81 billion. This represents a 20% growth when compared to the USD 4.84 billion received during the same period last year.
Last year recorded the highest annual foreign remittances received by Sri Lanka since 2018, with Sri Lankan expatriates sending USD 6.57 billion. This was a 10.1% increase compared to 2023. Economic experts predict that, based on current trends, Sri Lanka is well on track to comfortably surpass last year’s record this year.
