Remittances hit all-time high of US $ 712mn in October

Sri Lanka received its highest ever monthly income of US $ 712.0 million from the workers’ remittances in October, signalling that the country is in for a bumper year of income from the Sri Lankans working abroad.

The October remittance income is higher than both what the country earned in the same period last year (US $ 587.7 million) and US $ 695.7 million earned in September 2025.

With the October inflows, Sri Lanka has accumulated US $ 6,523.7 million in total remittances for the first 10 months, up by a robust 20.1 percent from the same period last year.

Although there has been some recent slowdown in the departures for foreign employment, the higher departures in the recent few years, weaker rupee and the political stability helped the country to attract a lot more inflows from the Sri Lankans working abroad.

In 2024, Sri Lanka earned US $ 6,575.4 million in remittances, which was up 10.1 percent from 2023.
If the current pace continues, Sri Lanka could receive around US $ 7.8 billion total remittances for the full year, which is going to be the highest ever Sri Lanka will have had.

Sri Lanka is also entering the year-end festive season, which typically sees higher than average repatriations of earnings from those who are working abroad.

In any case, remittances continue to provide a crucial buffer for the country’s balance of payment and thereby preserving the external sector stability.

Sri Lanka is also set to receive another US $ 347 million from the International Monetary Fund, as its sixth programme tranche, before the end of the year.