Overseas Filipino workers (OFWs) sent home USD2.72 billion in February 2025, up 2.7% from the same month last year, according to the Bangko Sentral ng Pilipinas.
Including in-kind contributions, total personal remittances rose 2.6% to USD3.02 billion. Cumulatively, remittances in the first two months of the year reached USD5.63 billion in cash and USD6.10 billion in total personal remittances.
Despite this steady growth, economist Michael Ricafort warned that US protectionist policies under President Donald Trump could pose risks to global employment and OFW income.
Still, the Philippines’ strong presence in sectors like maritime and healthcare continues to make remittances a key driver of consumer spending and economic growth.
Source: PhilNews24 | April 16, 2025
