JUNE SEES OFW REMITTANCES PEAK OVER HALF-YEAR PERIOD

Overseas Filipino workers (OFWs) sent home $2.99 billion in remittances in June, marking a six-month high and a 3.7 percent increase from the same month last year, according to Bangko Sentral ng Pilipinas (BSP) data.

Land-based OFWs contributed $2.43 billion, growing faster than sea-based workers, whose remittances reached $555 million.

For the first half of 2025, total cash remittances rose 3.1 percent to $16.75 billion, driven mainly by funds from the US, Singapore, and Saudi Arabia.

The increase is attributed to strong demand for Filipino workers abroad, particularly in health care and construction, as well as seasonal household expenses.

However, risks such as global economic uncertainty, currency fluctuations, and possible policy changes like the US remittance tax may affect future remittance inflows.

Source: PhilNews24 | August 17, 2025