Significant decline in Sri Lankan remittances

Kathmandu, May 23

According to the central bank, remittances to employees in Sri Lanka dropped by 50% in April compared to the same month the previous year. According to the bank’s published numbers issued on Sunday, the decrease was more than 248.9 million compared to the same period last year.

Sri Lanka got 2.38 billion in remittances from foreign labours between January and April 2021.

This year, the figure has dropped to $1.03 billion. Meanwhile, tourism brought in 2.64 million dollars in Sri Lanka from January to April 2022. In the same period last year, it was 360 million.

Sri Lanka’s main sources of foreign exchange profits are tourism and labor remittances. In 2021, remittances to South Asian nations totaled Rs 5.5 billion. It was dropped from 7.1 billion in 2020 by 23%. In 2018, Sri Lanka received over 2.3 million tourists. After the bombing in 2019, that number fell to 1.9 million. The Covid-19 epidemic lowered the amount more in 2020 and 2021.

About Danfe TV

Check Also

Ranil Wickremesinghe elected as the new President of Sri Lanka

Desk By Karuna Ranil Wickremesinghe has been elected as the President of Sri Lanka. In …

Leave a Reply

Your email address will not be published. Required fields are marked *