The Central Bank of the Philippines reported that personal remittances from Overseas Filipinos increased by 2.6% year on year to USD 3.02 billion in February 2025, bringing cumulative remittances in January–February 2025 to USD 6.27 billion, up 2.7% from a year earlier. Both land-based and sea-based workers contributed to the increase. Cash remittances coursed through banks reached USD 2.72 billion in February 2025 (+2.7%) and USD 5.63 billion in January–February 2025 (+2.8%), with the year-to-date rise mainly supported by higher inflows from the United States, Saudi Arabia, Singapore and the United Arab Emirates. The United States accounted for the largest recorded share of cash remittances in January–February 2025, followed by Singapore and Saudi Arabia, although the central bank noted that correspondent banking channels and money couriers can limit disaggregation by actual country source and may inflate the United States’ apparent contribution.
Central Bank of the Philippines 2025-04-15
Central Bank of the Philippines reports 2.6% rise in overseas Filipino personal remittances to USD 3.02 billion in February 2025
The Central Bank of the Philippines reported a 2.6% year-on-year increase in personal remittances from Overseas Filipinos, totaling USD 3.02 billion in February 2025. Cumulative remittances for January–February 2025 reached USD 6.27 billion, up 2.7% from the previous year, with significant contributions from the U.S., Saudi Arabia, Singapore, and the UAE. Cash remittances through banks rose to USD 2.72 billion in February 2025, with the U.S. accounting for the largest share, though actual contributions may be inflated due to correspondent banking channels.