July workers’ remittances up 23% YoY to $ 697.3 m in first seven months, soar to $ 4.43 b

Monday, 11 August 2025 06:04 - - {{hitsCtrl.values.hits}}

July records highest monthly inflow so far in 2025
Workers’ remittances in first seven months soar to $ 4.43 b, up 19.5% YoY; highest in same period since 2020

Workers’ remittances hit a record high for the month of July, surging to $ 697.3 million, registering the highest monthly inflow so far in 2025, the latest Central Bank of Sri Lanka (CBSL) data revealed.

The July inflow reflects a robust 23.02% year-on-year (YoY) growth and marks a 9.1% increase compared to June 2025. It is also the fourth consecutive month of record inflows for the year.

The July 2025 figure is also the second highest monthly remittance inflow in history, behind $ 708.089 million recorded in 2020.

The inflow during the first seven months increased by 19.5% YoY to over $ 4.43 billion, marking the highest cumulative figure in the period since 2020. The year-to-date (YTD) figure also represents a 6% increase compared to the $ 4.18 billion registered in the same period of 2016—the year that holds the record for the highest annual workers’ remittances inflow at $ 7.24 billion.

The sharpest post-crisis rebound was in 2023, when workers’ remittances grew by 57% to $ 6 billion, recovering from a 12-year low of $ 3.78 billion in 2022.

In 2024, workers’ remittances hit a four-year high of $ 6.57 billion, up by 10.1% from $ 5.69 billion in 2023. This growth was followed by a record wave of people seeking foreign employment after an unprecedented economic crisis.

Historically, the highest-ever annual workers’ remittances were recorded in 2016, whilst between 2014 and 2018, the annual inflows averaged around $ 7 billion, or roughly around $ 600 million per month.

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