Sri Lanka Remittances Hit Record US$7.2bn in 11 Months

Sri Lanka’s worker remittances surged to a record US$7.2 billion in the first 11 months of 2025, surpassing the previous annual high set in 2017, according to Central Bank data. Inflows rose 20.7 percent year-on-year, with November remittances jumping 27 percent to US$673.4 million.

The recovery follows the abandonment of the parallel exchange rate regime, which redirected funds from informal transfer networks back into the formal banking system. Remittances are now the country’s largest source of foreign exchange, supporting reserves and easing balance-of-payments pressure.

The government has proposed housing loans and a contributory pension scheme for overseas workers in the 2026 Budget to sustain inflows. While remittances are expected to remain strong in the near term, economists warn that heavy reliance on migrant earnings highlights deeper weaknesses in domestic job creation and export growth

 

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