Over 1.2 million Sri Lankans –? ? an estimated 13 per cent of the labour force? ?? work
abroad, and their families and the Sri Lankan economy depend heavily on the money
they send home.???Between 1991 and 2006 the contribution of formal remittances to GDP
increased from 4 to 9.7 per cent.? ?At $2.3 billion, remittances are the country’s second
largest source of foreign exchange after garment exports, and represent 30 per cent of
national savings.???? Remittances via informal channels, which are not included in
national accounts, are estimated to account for between 13 and 45 per cent of private
transfers.????