Remittances decline 23% in May

Tuesday, 14 July 2020 00:34 -     - {{hitsCtrl.values.hits}}

  • No tourist arrivals, cumulative earnings for first five months estimated at $ 956 m 

Workers’ remittances declined by 23.2% in May, year-on-year, to $ 432 million, the Central Bank said yesterday.  

On a cumulative basis, workers’ remittances recorded a decline of 11.9% to $ 2,407 million during the first five months of 2020, in comparison to the corresponding period of 2019.

No tourist arrival was recorded in May with the suspension of all passenger flights and ship movements to Sri Lanka from mid-March due to the outbreak of COVID-19, and cumulative tourist arrivals remained at 507,311 during the first five months of 2020, compared to 945,377 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 first five months of 2020, recording a drop of 46.3% from the corresponding period of 2019.

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.

COMMENTS

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.