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Sri Lanka sees remittances down 23 pct in 2021

  • Sun Online Desk
  • 18th January, 2022 07:31:57 PM
  • Print news

Sri Lanka's earnings from remittances declined in 2021, local media citing provisional data from the Central Bank of Sri Lanka reported on Tuesday.

The data showed Sri Lanka received 5.5 billion US dollars in remittances in 2021, down 23 percent from 7.1 billion dollars in 2020.

According to the provisional data, the Asian country received 325.2 million dollars in remittances in December 2021, compared to 813 million dollars a year earlier, Xinhua reported.

Remittances from overseas migrant workers are one of Sri Lanka's largest sources of foreign exchange and accounted for 8 percent of its gross domestic product from 2001 to 2020, according to local newspaper the Daily FT.