Remittances from migrant workers to Sri Lanka have dropped by 50%, according to the Central Bank of Sri Lanka. The Central Bank of Sri Lanka (CBSL) said in its September 2021 report on the performance of the Foreign Sector that this is a decrease compared to September 2020.
In September 2020, remittances from overseas employees reached US $ 703 million. In September 2021, it had fallen to US $ 353 million.
On a cumulative basis, remittances from foreign workers fell 9.3 percent to US $ 4,577 million in the January-September 2021 period, compared to a corresponding period of the previous year.
The number of people going abroad for employment has increased by 38.6 percent and to 12,274 in September compared to August 2021, the Central Bank said in a statement.