Economics

Middle East War Poses Risk to Sri Lanka’s Trade, Remittances: CBSL Warns

  • September 5, 2024

A broader conflict in the Middle East could significantly impact Sri Lanka’s tea exports, petroleum imports, and remittance inflows, according to the Central Bank of Sri Lanka (CBSL). The CBSL highlighted that the country has substantial trade exposure to the region, with nearly 46% of its tea exports directed to Middle Eastern markets. Additionally, tea

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Economics

Sri Lanka’s July 2024 Remittances Increase by 10.3% to $566.8 Million

  • August 12, 2024

Sri Lanka’s remittances surged by 10.3% to $566.8 million in July 2024, marking a significant rise from the previous year, thanks to increased use of official banking channels by expatriates. State Minister of Finance Shehan Semasinghe announced on X (Twitter) that the total remittances for the first seven months of the year have reached $3.71

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