CASH remittances sent to the Philippines by overseas Filipino workers (OFWs) continued their upward trend in May 2025, reaching US$2.66 billion—a 2.9 percent increase compared to May 2024’s US$2.58 billion.
This growth is fueled by a strong performance from both land-based and sea-based OFWs, although sea-based workers showed a slightly faster increase.
Land-based OFWs contributed US$2.12 billion (a 2.8 percent year-on-year increase), while sea-based OFWs sent US$536 million (a 3.1 percent increase). The consistent growth in remittances underscores the significant role OFWs play in supporting the Philippine economy.
The positive trend in May builds on the cumulative growth observed in the first five months of 2025. Total cash remittances for the January-May period reached US$13.77 billion, representing a 3.0 percent increase compared to the US$13.37 billion recorded during the same period in 2024.
The United States remained the top source country for remittances during this period, followed by Singapore and Saudi Arabia. This sustained growth in cash remittances significantly impacts the Philippine economy, contributing substantially to household incomes and overall economic activity.
The increase in cash remittances also led to a rise in overall personal remittances, which encompasses cash sent through formal and informal channels, as well as remittances in kind.
Personal remittances reached US$2.97 billion in May 2025, a 3.0 percent increase from US$2.88 billion in May 2024.
The cumulative personal remittances for the January-May period reached US$15.34 billion, reflecting a 3.0 percent increase compared to the same period in 2024. This positive trend in both cash and personal remittances highlights the continued reliance of many Filipino families on the financial support provided by their relatives working abroad.
