MANILA, April 15 (Xinhua) -- Personal remittances from overseas Filipinos reached 3.02 billion U.S. dollars in February, 2.6 percent higher than the 2.95 billion dollars recorded in February 2024, the Philippine central bank said Tuesday.
The bank said the remittance increase was observed from land- and sea-based workers.
Correspondingly, the bank said the cumulative remittances reached 6.27 billion dollars from January to February, 2.7 percent higher than the 6.10 billion dollars recorded in the same period of 2024.
The growth in cash remittances from the United States, Saudi Arabia, Singapore, and the United Arab Emirates mainly contributed to the increase in remittances in January-February 2025, the bank added.
With an estimated 10 million Filipinos living or working overseas, personal remittances remain vital to the country's foreign exchange source.
According to the Asian Development Bank, the Philippines is among the top 10 global recipients of remittances. ■
