Sri Lanka's Workers' Remittances Surge to Record-Highs in 2025

Strategic Insights -

Sri Lanka has witnessed a significant recovery in workers' remittances in 2025, with a surge in monthly and cumulative inflows. According to the Central Bank of Sri Lanka (CBSL), the country received a record $ 680.8 million in August, marking the second-highest monthly inflow in 2025. This figure represents an 18% year-on-year (YoY) increase and is the fifth consecutive month of record inflows, underscoring the steady recovery of foreign worker earnings. The cumulative workers' remittances in the first eight months of 2025 rose 19.3% YoY to surpass $ 5.1 billion, outperforming the record set in 2020.

Key Takeaways:

  • Sri Lanka's workers' remittances surged to $ 680.8 million in August 2025, marking the second-highest monthly inflow in 2025, representing an 18% YoY increase.
  • This was the fifth consecutive month of record inflows, underscoring the steady recovery of foreign worker earnings.
  • The cumulative workers' remittances in the first eight months of 2025 rose 19.3% YoY to surpass $ 5.1 billion, registering the strongest performance for the period since 2020.
  • The year-to-date (YTD) figure represents a 6.5% increase compared to the over $ 4.8 billion registered in the same period of 2016.
  • In 2024, workers' remittances hit a four-year high of $ 6.57 billion, up by 10.1% from 2023.
  • The sharpest post-crisis rebound was in 2023, when workers' remittances grew by 57% to reach $ 5.96 billion, recovering from a 12-year low of $ 3.78 billion in 2022.
  • Historically, the highest-ever annual workers' remittances were recorded in 2016, while between 2014 and 2018, the annual inflows averaged around $ 7 billion, or roughly around $ 600 million per month.

Statistics:

  • August 2025: $ 680.8 million, 18% YoY increase, second-highest monthly inflow in 2025, and third-highest monthly remittance in the country's history.
  • August 2025: $ 680.8 million / $ 697.3 million (July 2025) / $ 708.09 million (2020)
  • Cumulative workers' remittances (Jan-Aug 2025): $ 5.1 billion, 19.3% YoY increase.
  • Cumulative workers' remittances (Jan-Aug 2025): $ 5.1 billion / $ 4.8 billion (2016)
  • Year-to-date (YTD) growth (Jan-Aug 2025): 6.5% compared to the same period in 2016.
  • Historical average (2014-2018): $ 7 billion / $ 600 million per month.

Sources:

  • Central Bank of Sri Lanka (CBSL)