The Bangko Sentral ng Pilipinas (BSP) reported that personal remittances from Overseas Filipinos (OFs) reached US$3.13 billion in March 2025, marking a 2.6 percent increase compared to the US$3.05 billion recorded in March 2024. This growth was supported by contributions from both land-based and sea-based workers.
The cumulative personal remittances for the first quarter of 2025 (January-March) amounted to US$9.40 billion, representing a 2.7 percent rise from the US$9.15 billion recorded in the same period last year.
Cash remittances coursed through banks also showed a positive trajectory, reaching US$2.81 billion in March 2025. This reflects a 2.6 percent growth from the US$2.74 billion recorded in March 2024.
On a year-to-date basis, cash remittances totaled US$8.44 billion in January-March 2025, a 2.7 percent increase from the US$8.22 billion registered in the corresponding period in 2024.
The BSP highlighted that the primary drivers for the overall increase in cash remittances during the first three months of 2025 were the growing inflows from the United States (U.S.), Singapore, Saudi Arabia, and the United Arab Emirates (UAE).
In terms of country sources, the U.S. accounted for the largest share of total cash remittances during the first quarter, followed by Singapore and Saudi Arabia.
This sustained growth in remittances underscores the resilience and vital contribution of Overseas Filipinos to the Philippine economy. The BSP remains committed to monitoring these flows and their impact on the country’s economic landscape.
