Cash remittances from overseas Filipinos (OFs) climbed by 3.2 percent year-on-year to US$2.98 billion in August 2025, up from US$2.89 billion in August 2024, providing a continued boost to the economy. The sustained increase was driven by stronger inflows from both land-based workers (US$2.35 billion, up 3 percent) and sea-based workers (US$626 million, up 3.8 percent).
On a cumulative basis, remittances from January to August 2025 totaled US$22.91 billion, marking a 3.1 percent growth from the same period in 2024 (US$22.22 billion). These inflows are a key driver of household consumption, which remains a critical pillar of the country’s GDP.
The United States remained the leading source of remittances, followed by Singapore and Saudi Arabia. However, the central bank notes that actual remittance origins may be skewed, as many funds are routed through U.S.-based correspondent banks.
Meanwhile, personal remittances — which include both cash and non-cash transfers — also rose by 3.2 percent in August 2025 to US$3.31 billion, from US$3.20 billion a year earlier. Year-to-date, personal remittances reached US$25.51 billion, up 3.1 percent from the US$24.74 billion recorded in the same period of 2024.
These steady remittance inflows are vital to the Philippine economy, supporting consumption, strengthening the peso, and helping narrow the current account deficit.
