Overseas Filipinos sent home more money in September, strengthening the country’s remittance buffer as steady global hiring and early holiday spending lifted inflows.
Data from the Bangko Sentral ng Pilipinas showed cash remittances rose 3.7% to $3.12 billion, up from $3.01 billion a year earlier. This kept the nine-month tally on track, with inflows rising 3.2% to $26.03 billion from $25.23 billion in the same period of 2024.
The United States remained the top remittance source, followed by Singapore and Saudi Arabia. The BSP noted that the U.S. appears dominant partly because many global remittance centers route transfers through American correspondent banks.
Personal remittances —which include cash sent through banks, informal channels, and in-kind transfers — also improved, rising 3.8% to $3.46 billion. Cumulative personal inflows grew 3.2%, approaching $29 billion.
Economists said September’s gains reflected favorable global labor demand and early holiday shopping.
Analysts said steady remittance growth should continue to support consumer spending toward year-end, cushioning the economy from global market volatility as it heads into 2026.
