Cash remittances from overseas Filipino workers (OFWs) rose 3.7 percent in June 2025 to USD 2.99 billion, driven by strong inflows from land-based workers, according to the Bangko Sentral ng Pilipinas (BSP).
Land-based OFWs sent USD 2.43 billion, up 3.7 percent year-on-year, while sea-based workers contributed USD 555 million, up 3.5 percent.
For the first half of 2025, cash remittances reached USD 16.25 billion, a 3.1 percent increase from USD 15.75 billion a year earlier. The top remittance sources were the United States (40.1%), Singapore (7.1%), and Saudi Arabia (6.2%).
Personal remittances, which include in-kind items, rose 3.7 percent in June to USD 3.33 billion, bringing the January–June total to USD 18.67 billion, also up 3.1 percent.
Rizal Commercial Banking Corporation chief economist Michael Ricafort said the sustained growth is “a good signal and a bright spot for the overall economy” as remittances continue to fuel consumer spending, which accounts for about 68 percent of economic activity.
He noted that June’s inflows were the highest monthly total in six months, since the record USD 3.38 billion in December 2024. While US remittances could face pressure from protectionist policies, Ricafort pointed to above-average growth from countries such as Singapore, Saudi Arabia, the UAE, Qatar, Taiwan, and Hong Kong.
The Philippines remains the fourth-largest remittance recipient globally, after India, Mexico, and China, due to sustained demand for skilled workers such as seafarers and medical professionals.