Statistics from the Central Bank of Sri Lanka indicate that remittances sent to Sri Lanka by workers working in Israel continue to grow.
The Central Bank of Sri Lanka issues a quarterly report on remittances sent to Sri Lanka by overseas workers. Remittances sent by Sri Lankan workers in Israel were not included in this report until the third quarter of 2023. This is because the amount of foreign exchange received from Israel did not increase significantly. However, from the third quarter of 2023, foreign exchange received from Israel has been included in this report. This is because remittances of a higher value have been received since then.
Sri Lankan workers in Israel sent USD 14.3 million in foreign exchange to Sri Lanka in the third quarter of 2023, which increased to USD 21.3 million in the fourth quarter of 2023. The amount of foreign exchange received from Israel, which was USD 22.3 million in the first quarter of 2024, increased to USD 27.4 million in the second quarter of the same year and to USD 33.6 million in the fourth quarter. In the fourth quarter of last year, the amount of foreign exchange sent by Sri Lankan workers in Israel to Sri Lanka was USD 47.4 million.
In the first month of this year, Sri Lankan workers in Israel sent USD 55.9 million and USD 64.6 million in the second quarter.
During this period, Kuwait has been reported to be the country that receives the most foreign exchange to Sri Lanka in the most quarters. In only one quarter has the United Arab Emirates surpassed Kuwait in sending foreign exchange to Sri Lanka.