Cash remittances from overseas Filipino workers (OFWs) rose to a six-month high in June as steady inflows from key host countries continued to support domestic consumption.
Data from the Bangko Sentral ng Pilipinas showed that remittances sent through banks climbed 3.7% to $2.99 billion, up from $2.88 billion a year earlier.
Land-based workers contributed $2.43 billion, a 3.7% increase year-on-year, while sea-based workers remitted $555 million, up 3.5% from the same month last year.
For the first half of 2025, total cash remittances reached $16.75 billion, up 3.1% from $16.25 billion in the same period in 2024.
Personal remittances, which include transfers through informal channels and goods sent in kind, rose 3.7% to $3.33 billion in June. Year-to-date, personal remittances totaled $18.67 billion, also up 3.1% year-on-year.
The BSP said the United States, Singapore, and Saudi Arabia were the top sources of remittances during the first half.
The U.S. remained the largest contributor with 40.1% of total inflows, followed by Singapore (7.1%), Saudi Arabia (6.2%), Japan (5%), and the United Kingdom (4.9%).
