Capital TRUST Research
Capital TRUST Research
February 10, 2025 at 06:12 AM
*Worker Remittances Plough Ahead As January Brings In USD 573Mn* Remittances from the Sri Lankans working abroad had continued to remain strong as they repatriated USD 573Mn in January 2025 to kick off what appears to be another year of robust inflows from the largest source of foreign inflows. January inflows marked a 17.5% increase from a year ago levels but showed a decline from the USD 613.8Mn in December 2024 due to the seasonality associated with such inflows. The steady increase in remittances continues to play a crucial role in supporting Sri Lanka’s external sector and thereby the recovering economy. Remittance inflows are expected to remain strong given the record migration out of Sri Lanka in the last three years as well as the upcoming traditional New Year which usually see a peak inflows from such moneys sent by those working abroad.

Comments