Remittances from season workers hit new high at $247m in 2023

The Central Bank of Solomon Islands has estimated that our seasonal workers had remitted $247 million to the country last year.

In response to a query sent by SBMOnline, the bank said the estimate for 2023 is $247 million, as provided by the economics department.

The money was remitted by Solomon Islanders working in Australia under the Pacific Australia Labour Mobility (PALM) scheme and in New Zealand under the Recognised Seasonal Employer (RSE) scheme.

 Meanwhile Remittances or money sent home from Solomon Islands’ seasonal workers abroad in 2022  surged by about 64% from $111m in 2021 to a staggering $182m in 2022.

Based on the Central Bank of Solomon Islands preliminary estimates exclusively disclosed to SBMOnline, the total remittances from seasonal workers surged by around 64% to $182 million in 2022 from $111 million in 2021.

So here are the remittances for the past 3 years:

2023 $247m

2022 $182m

2021 $111m