Money sent home by overseas Filipinos reached USD2.66 billion in April 2025, marking a 4 percent increase from USD2.56 billion in April 2024, according to data released by the Bangko Sentral ng Pilipinas (BSP). This growth in cash remittances during the month represents the highest recorded since the 5.8 percent expansion in December 2022.
For the first four months of the year, cash remittances totaled USD11.11 billion, up by 3 percent from USD10.78 billion during the same period in 2024. The BSP noted that the increase in remittances was driven by higher contributions from the United States, Saudi Arabia, Singapore, and the United Arab Emirates (UAE).
By country of origin, the United States accounted for the largest share of total cash remittances from January to April 2025, followed by Singapore and Saudi Arabia.
Personal remittances, which include cash sent through banks and informal channels as well as remittances in kind, amounted to USD2.97 billion in April 2025, reflecting a 4.1 percent increase from USD2.86 billion recorded in April 2024. From January to April 2025, cumulative personal remittances rose by 3 percent, increasing from USD12.01 billion in 2024 to USD12.37 billion in 2025.
“The strong remittance growth for April may be attributed to seasonal factors, as this month usually sees one of the fastest inflows during the summer months,” said Reinielle Matt Erece, an economist at Oikonomia Advisory & Research Inc.
Erece also noted that stronger remittance inflows from overseas Filipino workers (OFWs) may continue due to the relative strength of the peso, which could prompt them to send more money to maintain the same peso value they previously sent.