Philippines experiences 2.7% year-on-year increase in remittances from overseas Filipinos in January, reaching $3.15bn.
Personal remittances from overseas Filipinos increased 2.7% year-on-year in January, reaching $3.15bn, according to the Philippine central bank. Cash remittances from the US, Saudi Arabia, the UAE, and Singapore contributed to the increase. Remittances from overseas Filipinos reached an all-time high of $37.2bn in 2023, 3% higher than the previous year. The Philippines is among the top 10 global recipients of remittances.
March 15, 2024
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