The Bangko Sentral ng Pilipinas (BSP) reported on Monday that overseas Filipino workers (OFWs) sent home a total of USD 3.18 billion in cash remittances in July 2025, marking a 3 percent increase compared to the same month last year.
The growth was largely driven by higher remittances from both sea-based and land-based workers. Those working at sea sent USD 585 million, up 3.1 percent, while land-based workers remitted USD 2.59 billion, showing a 3 percent rise.
Cumulatively, cash remittances for the January to July 2025 period reached USD 19.93 billion, also reflecting a 3.1 percent uptick from the USD 19.33 billion recorded during the same stretch in 2024.
The central bank noted that the United States remained the leading source of remittances, followed by Singapore and Saudi Arabia, indicating the continued reliance of Filipino families on earnings from OFWs abroad.
“The increase in cash remittances drove an increase in personal remittances,” the BSP said in a statement.
Personal remittances—which include not just bank transfers but also those sent through informal channels and in-kind support—totaled USD 3.53 billion in July, also reflecting a 3.1 percent growth year-on-year. From January to July 2025, personal remittances hit USD 22.21 billion, up from USD 21.53 billion during the same period last year.
