Cash sent home by overseas Filipino workers (OFWs) rose to USD2.66 billion in April 2025, reflecting a 4 percent increase from the USD2.56 billion recorded in the same month last year, according to new data from the Bangko Sentral ng Pilipinas (BSP).
This marks the fastest monthly growth in remittances since December 2022’s 5.8 percent jump, underlining the continued resilience of OFW contributions to the Philippine economy.
From January to April this year, total cash remittances reached USD11.11 billion, up 3 percent compared to USD10.78 billion in the same period in 2024.
Driving this growth were higher remittances from key labor destinations such as the United States, Saudi Arabia, Singapore, and the United Arab Emirates. The United States remained the top source of remittances, followed by Singapore and Saudi Arabia.
Meanwhile, personal remittances—which include both bank and non-bank transfers as well as in-kind remittances—rose to USD2.97 billion in April 2025, up 4.1 percent year-on-year. The cumulative total for personal remittances in the first four months stood at USD12.37 billion, also up 3 percent from USD12.01 billion last year.
Oikonomia Advisory & Research Inc. economist Reinielle Matt Erece noted that April’s strong remittance performance may be partly seasonal. “However, we may continue to see stronger remittance inflows from OFWs due to the relative strength of the peso,” Erece said, explaining that OFWs might be sending more to preserve the value of their families’ peso-based spending.
