Despite global economic downturn:
Remittances from Sri Lankan expats up
Charumini de Silva
Despite the global economic downturn which affected the foreign
exchange earnings of many countries, Sri Lanka's foreign remittances
from expatriate Sri Lankans working in many parts of the world recorded
an increase of five percent compared to 2008, a senior official of the
Central Bank of Sri Lanka told Daily News Business.
Migrant workers |
He said, "Foreign remittances during the first half of 2009 were US$
1.6 billion while remittances during the corresponding period in 2008
were US$ 1.5 billion, a five percent growth over last year."
"However, during the first quarter of 2009 the remittances showed a
slight decrease - US$ 774 million by Sri Lankan expatriates, compared to
US$ 787 million during the corresponding period in 2008," he said.
At a glance |
*Foreign
remittances hit $1.6b in 1H 2009
* Sixty percent remittances from Middle East
*Over 117,011 workers take up foreign jobs |
"These remittances were mainly from Sri Lankans working in Middle
East countries which accounts for 60 percent of the total remittances,
while 20 percent was remitted by Sri Lankan expatriates in Europe. The
remaining remittances were from North America, South East Asia and the
Far East. Remittances were also sent by Sri Lankan expatriates in other
countries, but this was only a minor percentage among foreign
remittances," he said.
"However, on an average foreign remittances from expatriate Sri
Lankans showed a 20 percent annual increase despite various obstacles
during the past years," he said.
"The global recession during the previous year had an impact on many
economies including industrialized countries and the small decrease in
percentage recorded in the first quarter of 2009 could be attributed to
the global economic downturn," he said.
Sri Lanka Bureau of Foreign Employment, Manager Foreign Relations and
Marketing, Senerath Yapa said, "Over 117,011 workers had left for
employment abroad during the first six months of 2009."
"Most of the job seekers had gone to work in Middle East countries,
which is still the traditional market that dominates foreign employment
while there was a small percentage of people who had taken up employment
in Japan," he said.
"More unskilled workers such as domestic aides still go for
employment in the Middle East. There was also a slight increase in the
number of skilled workers seeking foreign jobs," Yapa said. |