Workers’ remittances peak to 14-month high in November

Friday, 30 December 2022 00:00 - - {{hitsCtrl.values.hits}}

Workers’ remittances had peaked to a new high of $ 384 million in November but given losses earlier, the year-to-date figure remains down by 36%.

The November 2022 figure is the highest since August last year when $ 447 million was achieved. It also reflects a rebound in inflows whereas October saw a marginal dip in comparison to September.

Workers’ remittances in the first 11 months of 2022 were down by 36% to $ 3.3 billion. Thanks to a rebound in inflow, the year-on-year deficit in the first 11 months had been reduced in comparison to 51.6% in the first half of 2022 and 44% in the first nine months.

Labour and Foreign Employment Minister Manusha Nanayakkara recently revealed that a record 300,000 people had migrated for overseas jobs.

Central Bank of Sri Lanka citing data up to October said that total departures for foreign employment during January-October 2022 were recorded at 251,151 which has exceeded the annual departures in pre-pandemic period.

In October, departures for foreign employment were recorded at 28,473 with unskilled being (11,399), skilled (7,887) and domestic aid (6,165).

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.