Money sent home by overseas Filipinos (OFs) continued to rise in August, growing by 3.2 percent year-on-year, according to data released by the Bangko Sentral ng Pilipinas (BSP).
Cash remittances coursed through banks reached $2.98 billion during the month, up from $2.89 billion in August 2024. Of the total, land-based workers accounted for $2.35 billion, while sea-based OFs contributed $626 million.
From January to August 2025, total cash remittances climbed by 3.1 percent to $22.91 billion, compared to $22.22 billion during the same period last year. The United States remained the largest source of inflows, followed by Singapore and Saudi Arabia.
The BSP noted that the growth in cash remittances also translated into higher personal remittances—those that include transfers in kind and those sent through informal channels.
Personal remittances rose 3.2 percent to $3.31 billion in August, from $3.20 billion a year earlier. Cumulatively, these reached $25.51 billion in the first eight months of 2025, up by 3.1 percent from $24.74 billion in the same period last year.