PERSONAL remittances also increased as overseas Filipinos continued to support household spending and domestic demand.
Cash remittances from overseas Filipinos (OFs) rose 2 percent year on year to US$2.71 billion in May 2026, driven by sustained inflows from Filipinos working abroad, the Bangko Sentral ng Pilipinas (BSP) reported.
The United States remained the largest source of cash remittances during the January-to-May period, accounting for 39.4 percent of total inflows. It was followed by Singapore at 7.4 percent, Saudi Arabia at 6.4 percent, Japan at 5.1 percent, the United Kingdom at 4.6 percent, and the United Arab Emirates at 4.3 percent.
Cash remittances from land-based workers increased 2.1 percent to US$2.17 billion in May from US$2.12 billion a year earlier, while remittances from sea-based workers rose 1.7 percent to US$543 million from US$534 million.
Personal remittances, which include cash transfers through banks and informal channels as well as remittances in kind, climbed 2.1 percent to US$3.03 billion in May from US$2.97 billion in the same month last year.
On a seasonally adjusted basis, personal remittances reached US$3.34 billion in May, up 0.1 percent from the previous month.
For the first five months of 2026, personal remittances totaled US$15.73 billion, up 2.6 percent from US$15.34 billion in the same period last year.
Cash remittances also grew 2.5 percent to US$14.11 billion from US$13.77 billion during the January-to-May period.
The BSP said the steady growth in cash and personal remittances underscores the continued contribution of overseas Filipinos to household incomes, consumer spending, and overall domestic demand. PR
