Philippines Remittances


Philippines: Remittances slow in March

May 15, 2012

In March, remittances from Overseas Filipino Workers (OFW) increased 5.0% over the same month last year to USD 1.70 billion, which was below the 5.8% growth recorded in February. The trend picked up, however, with remittances adding USD 20.4 billion in the last 12 months, which marked a 7.1% increase over the same period last year (February: +7.0% year-on-year). In addition, in the first quarter, remittances rose 5.4% over the same quarter last year (Q4: +7.6% yoy). According to the Central Bank,


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Philippines Remittances Chart

Philippines Remittances April 2012

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

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