YTD workers’ remittances cross $ 7 b mark

Monday, 15 December 2025 00:20 - - {{hitsCtrl.values.hits}}

Workers’ remittances during the first 11 months have crossed the $ 7 billion mark, aided by a record $ 673.4 million inflow in November 2025.

According to the latest data released by the Central Bank of Sri Lanka (CBSL), the November inflow represents a robust 27% year-on-year (YoY) increase, extending a series of record monthly performances seen this year. Despite easing slightly from October’s $ 712 million, November’s inflows remained significantly stronger than historical benchmarks.

Cumulatively, workers’ remittances for the first 11 months of 2025 surpassed $ 7.1 billion, reflecting a 20.7% YoY increase and the strongest performance for the January-November period since 2016.

The year-to-date (YTD) total is also 9.7% higher than the $ 6.5 billion recorded during the same period of 2016, a benchmark year that still holds the record for the highest annual remittance inflow of $ 7.24 billion.

While November’s inflow was $ 38.6 million lower than October’s peak, it comfortably exceeded the $ 567.37 million recorded in November 2016, highlighting the resilience of remittance flows amid global economic uncertainty.

Remittances continue to be Sri Lanka’s single largest source of foreign exchange, playing a critical role in stabilising the balance of payments.

The post-crisis recovery in remittances has been particularly pronounced. In 2023, inflows surged by 57% to $ 5.96 billion, rebounding sharply from a 12-year low of $ 3.78 billion in 2022 during the height of the economic crisis. This momentum carried into 2024, when remittances increased by a further 10.1% to $ 6.57 billion, supported by a rise in outbound labour migration as many Sri Lankans sought employment overseas following the collapse.

Historically, between 2014 and 2018, Sri Lanka’s annual worker remittances averaged around $ 7 billion, or roughly $ 600 million per month, reinforcing the sector’s longstanding role as a stabilising pillar of the economy.

With YTD inflows already exceeding $ 7.1 billion, 2025 is shaping up as one of the strongest years for remittances since the pre-crisis period, providing much-needed support to external finances.