Foreign Remittances Surge as Sri Lanka Sees Economic Boost
Sri Lanka has reported a significant increase in foreign remittances, with the Central Bank revealing a 17.9% rise in inflows for May 2025 compared to the same month last year. The total remittances received from January to May now stand at an impressive US$ 3.1 billion, reflecting the continued contribution of overseas Sri Lankans to the national economy.
Tourism also continues to play a key role in foreign exchange earnings, generating an estimated US$ 164 million in May alone. Cumulative tourism income over the past 12 months has reached US$ 1.5 billion, underscoring the sector’s recovery and growing momentum.
Meanwhile, Sri Lanka spent US$ 118 million on vehicle imports in May, bringing the total expenditure on such imports to US$ 312 million for the first five months of 2025.
Despite these transactions, the Central Bank reports that the country’s gross official reserves remain steady at US$ 6.3 billion, maintaining the same level recorded in April.
The upward trend in remittances and tourism earnings offers cautious optimism for Sri Lanka’s ongoing economic stabilization efforts.
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