Philippines Remittances


Remittances gain pace in April

In April, remittances from Overseas Filipino Workers (OFW) increased 5.3% over the same month last year to USD 1.70 billion, which was above the 5.0% growth recorded in March. The trend remained broadly stable, however, with remittances adding USD 20.4 billion in the last 12 months, which marked a 7.0% increase over the same period last year (March: +7.1% year-on-year). According to the Central Bank,


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Philippines Remittances Chart

Philippines Remittances May 2012

Note: Monthly OFW remittances in USD billion and annual variation in %.
Source: Central Bank of the Philippines (BSP).

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