PERSONAL remittances from Overseas Filipinos (OFs) rose by 2.6 percent to US$3.13 billion in March 2025 from the US$3.05 billion registered in March 2024. Both land-based and sea-based workers contributed to the increase in remittances.
Cumulative remittances reached US$9.40 billion in January-March 2025, marking a 2.7 percent increase from the US$9.15 billion recorded in January-March 2024.
Of the personal remittances from OFs, cash remittances coursed through banks reached US$2.81 billion in March 2025, reflecting a 2.6 percent increase from the US$2.74 billion recorded in March 2024.
On a year-to-date basis, cash remittances rose by 2.7 percent to US$8.44 billion in January-March 2025 from the US$8.22 billion registered in January-March 2024.
The growth in cash remittances from the United States (U.S.), Singapore, Saudi Arabia, and the United Arab Emirates (U.A.E.) was the main driver of the overall increase in remittances during January-March 2025. By country source, the U.S. accounted for the largest share of total cash remittances in the first quarter, followed by Singapore and Saudi Arabia.
metrosundaily
