Remittances rise 18.7% in Nov.

Saturday, 16 January 2021 01:00 - - {{hitsCtrl.values.hits}}

Tourism remains stagnant with 69.7% drop from Nov. 2019

Workers’ remittances recorded a notable increase in November 2020, rising 18.7% to $ 612 million and increasing the total for the first 11 months to $ 6.2 billion.

The Central Bank said workers’ remittances grew by 18.7% in November 2020 year-on-year to $ 612 million. This increase led cumulative workers’ remittances to record a growth of 3.9%, year-on-year, increasing to $ 6,291 million during the period from January to November 2020, in comparison to the corresponding period of 2019.

No tourist arrival was recorded in November 2020 for the eighth consecutive month.

Consequently, total tourist arrivals remained at 507,311 during the 11 months ending November 2020, compared to 1,672,039 arrivals recorded during the corresponding period in 2019.

Accordingly, cumulative earnings from tourism, which are estimated based on tourist arrivals, remained at $ 956 million during the year up to November 2020, thus recording a drop of 69.7% from the corresponding period of 2019.

SL trade deficit shrinks $ 1.8 b: CB

$ 543 m outflow from securities market Jan.-Nov.