Philippines Remittances


Remittances rebound in February

In February, remittances from Overseas Filipino Workers (OFW) increased 5.8% over the same month last year to USD 1.59 billion, which was above the 5.4% growth recorded in January. In addition, the trend stabilized, with remittances adding USD 20.3 billion in the last 12 months, which marked a 7.0% increase over the same period last year (January: +7.0% year-on-year). According to the Central Bank,


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Philippines Remittances Chart

Philippines Remittances March 2012

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

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