CASH remittances from overseas Filipinos (OFs) continued to support the Philippine economy, growing by 2.9 percent in May 2025 to reach US$2.66 billion, the Bangko Sentral ng Pilipinas (BSP) reported.
The May figure rose from US$2.58 billion recorded in the same month last year, with sea-based workers posting a faster annual growth of 3.1 percent compared to the 2.8 percent uptick from land-
based workers.
Of the total, land-based OFs accounted for the larger share at $2.12 billion, while sea-based OFs contributed $536 million.
Cumulative cash remittances from January to May 2025 rose by three percent to $13.77 billion from $13.37 billion during the same period in 2024.
The United States remained the leading source of cash remittances during the five-month period, followed by Singapore and Saudi Arabia.
The increase in bank-transferred cash remittances also drove a corresponding rise in personal remittances, which include both formal and informal transfers as well as in-kind contributions. Personal remittances rose by three percent to US$2.97 billion in May from US$2.88 billion a year earlier.
From January to May 2025, total personal remittances reached $15.34 billion, up three percent from $14.89 billion in the same period last year. / KOC