00:00The Banco Central ng Pilipinas, or the BSP, reported that personal remittances from overseas Filipino workers climbed 2.6% year-over-year in February 2025, reaching 3.2 billion U.S. dollars.
00:17This marks an increase from the 2.95 billion U.S. dollars recorded in February 2024.
00:25Cumulative remittances for January and February 2025 also reached 6.27 billion U.S. dollars, up from 2.7% from the same period last year.
00:40Of these remittances, cash remittances sent through banks reached 2.72 billion U.S. dollars, which is a 2.7% higher from a year earlier.
00:52Meanwhile, land-based OFWs accounted for the majority of bank remittances, setting 2.19 billion U.S. dollars in February, while C-based workers contributed 52 million U.S. dollars.
01:08The United States remained the top source of remittances, accounting for 40.9% of the total, followed by Singapore at 7.6%.
