Lankapage Logo Recent Top Stories
CP 13 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Revenues from Sri Lankan migrant workers to exceed US$ 6 billion in 2012
Thu, Jan 3, 2013, 10:06 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 03, Colombo: Remittances from Sri Lankan migrant workers are estimated to exceed US$ 6 billion in 2012, the Central Bank predicted.

Last year's remittances increased 16.8 percent to an estimated US$ 6.007 billion from US$ 5.15 billion in 2011. The workers' remittances are 10 percent of the country's GDP in 2012.

In the first eight months of 2012, Sri Lanka's migrant workers remitted $ 3.9 billion, which is an increase of 15.2 percent compared to the same period in 2011.

Departures for foreign employment during the first half of 2012 increased by 9.9% to 139,092, over the previous year and migrant workers of the professional category increased by 33% bringing in more revenues, according to the Central Bank.

The Central Bank said the main rain reasons for the increase this year are also due among others, to incentives to encourage Sri Lankan migrants to open NRFC accounts and expansion in global branches of Sri Lankan commercial banks and ATM network mainly in the Middle East, Australia, France, Canada and Singapore.

With over 1.7 million Sri Lankans working abroad, migrant workers constitute 17 percent of Sri Lanka's working population.

The Sri Lanka Bureau of Foreign Employment (SLBFE) targets remittances of US$ 10 billion by 2020.



ColomboPage - Recent 10 Stories
Former Defense Secretary not certain about entering politics, studying Trump
-- [2 hours ago]
Sri Lanka trade balance widens over 16 percent in December 2016 as import expenditure rises
-- [3 hours ago]
Temporary injunction against appointing a military officer as Sports Director of Education Ministry
-- [8 hours ago]
Fasting MP Wimal Weerawansa is too weak to attend hearing, court told
-- [9 hours ago]
Indian naval ship INS Darshak arrives at the Port of Colombo on a training visit
-- [9 hours ago]
USS Comstock arrives at Sri Lanka's Colombo Port on a training mission
Sri Lanka Railway engine drivers suspend strike
Indonesian Tourism Minister opens Sri Lanka stall at ASTINDO 2017
European Investment Bank delegation to make historic visit to Sri Lanka to explore new opportunities for future investment
CA Sri Lanka launches first ever financial reporting quiz to help enhance knowledge of accounting students

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.