Remittances from overseas Filipino workers (OFWs) rose to $2.97 billion in April 2025, a 4.1% increase from the same month last year, marking the highest growth since December 2022, the Bangko Sentral ng Pilipinas (BSP) reported.
This brought total personal remittances for January to April 2025 to $12.37 billion, up 3.0% year-on-year.
Despite the year-on-year growth, April’s remittances were lower than March’s $3.13 billion, partly due to seasonal factors.
The United States remained the top remittance source, accounting for over 40% of the total, followed by Singapore, Saudi Arabia, and Japan.
Economists said steady overseas employment and a weaker peso are driving the rise, though global risks like inflation and tax policies could impact future flows.
Source: PhilNews24 | June 17, 2025
