The recent report on workers’ remittances in 2022 showed a decline of 31.0% compared to the previous year, with a total amount of USD 3,789 million in 2022. Despite the overall decline, a notable recovery was seen in the latter part of the year, particularly in December 2022, where workers’ remittances increased to USD 476 million, which was the highest monthly figure recorded during the year.
In terms of departures for foreign employment, the year 2022 saw a total of 299,934 workers leaving the country for work opportunities abroad. This was mainly driven by the unskilled, skilled and domestic aid categories, with 101,786, 88,215 and 73,781 departures respectively. December 2022 recorded 23,407 departures for foreign employment.
Overall, while the decline in workers’ remittances was a concerning trend, the recovery in the latter part of the year shows promise for future growth in this important sector of the economy.
