Sri Lanka, Nov. 26 -- Remittances are an important contributor to the economy and the most import source of export earnings. In 2018, despite experiencing a decline for the second consecutive year, the country received remittances of over USD 7 billion, accounting for 7.9% of the GDP; well ahead of apparel (USD 5 billion), tourism (USD 4.4 billion) and agricultural exports (USD 2.7bn of which tea was USD 1.5bn).
A new study by IPS shows that 8.76% of all households (almost one in 12) receive remittances. In some of the poorest districts in the North the dependency increases: 24.87% of households in the Vavuniya district receive remittances, as do 21% in the Batticaloa district, 16.47% in the Jaffna district, 12% in the Ampara district and ...