PERSONAL remittances from Overseas Filipinos (OFs) grew by 2.6 percent to US$3.02 billion in February 2025 from the US$2.95 billion registered in February 2024. Both land-based and sea-based workers contributed to the increase in remittances.
Correspondingly, cumulative remittances also reached US$6.27 billion in January-February 2025, higher by 2.7 percent than the US$6.10 billion recorded in January-February 2024.
Of the personal remittances from OFs, cash remittances coursed through banks reached US$2.72 billion in February 2025, higher by 2.7 percent than the US$2.65 billion posted in February 2024.
On a year-to-date basis, cash remittances rose by 2.8 percent to US$5.63 billion in January-February 2025 from the US$5.48 billion registered in January-February 2024.
The growth in cash remittances from the United States (U.S.), Saudi Arabia, Singapore, and the United Arab Emirates (U.A.E.) mainly contributed to the increase in remittances in January-February 2025. In terms of country sources, the U.S. accounted for the largest share of overall cash remittances in January-February 2025, followed by Singapore and Saudi Arabia.
metrosundaily
