According to the latest Central Bank data released on Friday, remittances from Sri Lankan workers for the period January-July 2022 have dropped by 50% compared to the amount remitted in the corresponding 2021 period.
As a result, remittances totaled US$1,889.4 million in 2022, compared to $3,777.6 million in January-July 2021, and $279.5 million in July 2022, compared to $453.3 million in July 2021.
It was a different story with forex from tourism. Earnings increased to $824.9 million in January-July 2022, up from $50.4 million in the same period in 2021, owing largely to higher arrivals this year.
Arrivals were 458,670 in the seven months ending July 2022, compared to 19,337 in the same period in 2021.