Workers’ remittances have dropped in August 2023 compared to the previous month, the Central Bank of Sri Lanka reported.
As per Sri Lanka’s External Sector Performance in August 2023, Workers’ remittances amounted to US dollars 499 million in August in comparison to the US$ 541 million recorded in July 2023.
However, August’s figures have shown a notable improvement in comparison to the US dollars 325 million reported in August last year (2022).
A total of US$ 476 million was recorded in workers’ remittances in June 2023, while US$ 480 million was recorded in May 2023, and US$ 454 million in April.
The first three months of 2023 saw Sri Lanka Foreign workers’ remittances of US$ 437.5 million being recorded in January, US$ 407.4 million in February, and US$ 568.3 million in March 2023.
Meanwhile, total departures for foreign employment in August 2023 amounted to 26,131, while it was 197,146 during January to August 2023 in comparison to the total departures of 311,056 recorded in 2022. (NewsWire)