MONEY sent home by overseas Filipinos went up by 3 percent to USD3.18 billion in July this year from USD3.08 billion July 2024, the Bangko Sentral ng Pilipinas (BSP) said.
Data released Monday, September 15, showed that cash remittances from sea-based overseas Filipinos (OFs) increased slightly faster than funds from land-based OFs.
Remittances from sea-based workers increased by 3.1 percent to USD585 million, while those from land-based workers increased by 3 percent to USD2.59 billion.
For January to July this year, cash remittances reached USD19.93 billion, up by 3.1 percent from the USD19.33 billion recorded in the same period last year.
The United States remained the top source of remittances to the Philippines from January to July 2025, followed by Singapore and Saudi Arabia.
“The increase in cash remittances drove an increase in personal remittances,” said the BSP.
Personal remittances, meanwhile, which cover cash sent through banks and informal channels, as well as remittances in kind, amounted to USD3.53 billion in July, higher by 3.1 percent than the USD3.43 billion in July last year.
From January to July 2025, cumulative personal remittances rose by 3.1 percent to USD22.21 billion from USD21.53 billion in 2024. (PNA)
