Cash remittances sent by Overseas Filipinos (OFs) rose to US$3.02 billion in January 2026, up 3.5 percent from US$2.92 billion in the same month last year.
Data show the United States remained the largest source of remittances, followed by Singapore and Saudi Arabia. Personal remittances—which include money sent through banks and other channels as well as goods sent home—also increased 3.5 percent, reaching US$3.36 billion from US$3.24 billion a year earlier.
Remittances are a key driver of the Philippine economy. Money sent home by Filipinos working abroad helps millions of households pay for daily needs such as food, housing, education, and healthcare. For many families, these funds serve as a stable source of income.
The steady flow of remittances also supports local businesses. When families spend remittance money in their communities—on groceries, transportation, school supplies, or home improvements—it increases demand for goods and services. This spending helps small businesses grow and contributes to overall economic activity.
Economists also note that remittances strengthen the country’s supply of foreign currency, helping support the Philippine peso and the broader financial system.
