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
Sri Lanka inflation drops to 1.5 percent in November 2014, food prices increase
-- [12 minutes ago]
Sri Lanka minister's son and six others granted bail
-- [6 hours ago]
Sri Lanka's ruling party national list MP resigns from parliament
-- [6 hours ago]
Sri Lanka Defense Secretary calls on nations to share intelligence to combat transnational crime
-- [6 hours ago]
Fitch assigns Sri Lanka's Singer's notes 'A-(lka)' final rating
-- [8 hours ago]
Unilever CEO arrives in Sri Lanka on a business visit
-- [8 hours ago]
Sri Lanka Cricket condoles tragic death of Australian batsman Phillip Hughes
Sri Lankan President holds discussions with leaders of SAARC countries
Sri Lanka's left parties to field candidates for the presidential electio
Fielding a common opposition candidate for Sri Lanka presidency is an unprecedented move of solidarity - UNP

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.