Philippines: Remittances rise at a more moderate pace in May
Remittances came in at USD 2.4 billion in May, representing a 1.8% year-on-year rise. This follows April’s 3.9% year-on-year increase.
On a cumulative 12-month basis up to May, remittances summed USD 31.7 billion, compared to the USD 31.6 billion registered in April. May’s 12-month moving average signaled a 3.6% rise from a year earlier (April: +4.4% year on year).