United States Virginia change
Sri Lanka Breaking News
Sri Lanka parliament
vivalankaSri Lanka newsSri Lanka businessSri Lanka sportsSri Lanka technologySri Lanka travelSri Lanka videosSri Lanka eventssinhala newstamil newsSri Lanka business directory
vivalanka advertising
Stay Connected
Popular Searches
T20 World Cup
Sponsored Links
Sri Lanka Explorer

Jan-July worker remittances up 25.6% to $ 2.92 b

Sep 27, 2011 3:28:31 PM - www.ft.lk

During July 2011, workers’ remittances increased by 21.1% to $ 415 million over the same month of 2010. Cumulative inflows on account of workers’ remittances amounted to $ 2,922 million during the first seven months of 2011.  

In the first half remittances growth was 26.4% to $ 2.5 billion.

Earnings from tourism grew at a healthy rate of 50% to $ 451 million during the first seven months of the year while total foreign inflows to the Government (including Sovereign Bond proceeds of $ 1 billion) during the same period amounted to approximately $ 2,754 million. Meanwhile, Foreign Direct Investments (FDI) in the first half of 2011 amounted to $ 413 million.
As per the provisional estimates, gross official reserves, without Asian Clearing Union (ACU) balances, increased significantly to $ 8.1 billion by end July 2011. Based on the previous 12-month, average expenditure on imports of $ 1,421 million per month, the gross official reserves without ACU balances were equivalent to 5.7 months of imports.