Cash remittances hit USD 3.04 billion in June
MANILA — Cash remittances from overseas Filipinos reached USD 3.04 billion in June 2026, the highest monthly level recorded in the first half, as money sent home continued to support household income, consumption, and domestic economic activity.
The June inflow rose 1.7% from USD 2.99 billion in the same month last year, according to data released by the Bangko Sentral ng Pilipinas on Aug. 17. fileciteturn0file0
For millions of recipient households, remittances provide a steady source of funds for food, education, housing, health care, and other daily expenses.
The inflows also provide broader support to domestic demand, making remittances an important buffer for the Philippine economy when households face pressure from higher living costs or weaker income growth.
Cash remittances sent through the banking system totaled USD 17.15 billion from January to June, up 2.4% from USD 16.75 billion in the same period in 2025.
Land-based workers sent USD 2.48 billion in June, 1.8% higher than USD 2.43 billion a year earlier.
Their cash remittances for the first six months reached USD 13.70 billion, up 2.4% from USD 13.38 billion in the comparable period last year.
Sea-based workers sent USD 0.56 billion in June, an increase of 1.4% from USD 0.55 billion a year earlier.
Sea-based cash remittances totaled USD 3.45 billion in the first half, 2.2% higher than USD 3.38 billion a year earlier.
Personal remittances, a broader measure that includes cash sent through banks and informal channels as well as remittances in kind, reached USD 3.39 billion in June.
The June personal remittance total increased 1.8% from USD 3.33 billion a year earlier.
Seasonally adjusted personal remittances also increased 0.4% from the previous month in June.
Personal remittances totaled USD 19.12 billion from January to June, up 2.4% from USD 18.67 billion in the first half of 2025.
The BSP defines personal remittances as the sum of net compensation of employees, personal transfers, and capital transfers between households.
Cash remittances, meanwhile, refer specifically to money sent by land-based and sea-based overseas Filipino workers through the banking system.
The United States remained the biggest reported source of cash remittances in the first half of 2026, accounting for 39.4% of the total.
Singapore ranked second with a 7.2% share, followed by Saudi Arabia at 6.3%.
Japan accounted for 5.1% of reported cash remittances, while the United Kingdom contributed 4.8%.
The United Arab Emirates accounted for 4.4%, Canada for 3.3%, Qatar for 3.0%, Taiwan for 2.8%, and the Republic of Korea for 2.8%.
Other countries collectively accounted for 21.0% of reported cash remittances during the six-month period.
Among land-based workers, the United States accounted for 41.7% of reported remittances.
Saudi Arabia contributed 7.8%, Singapore 6.3%, the United Arab Emirates 5.4%, and the United Kingdom 4.7%.
Other countries accounted for the remaining 34.1% of reported land-based cash remittances.
For sea-based workers, the United States accounted for 30.6% of reported remittances.
Singapore had a 10.6% share, followed by Japan at 7.6%, Germany at 5.5%, and the United Kingdom at 5.4%.
Other countries collectively accounted for 40.6% of reported sea-based remittances.
The BSP cautioned that remittance data classified by origin have limitations and should not be interpreted as showing where overseas Filipinos actually earned the money.
The United States can appear as the largest source because many remitting or correspondent banks handling transactions are located there, even when the funds originated elsewhere.
The BSP noted that country-share figures may not add up to exactly 100% because of rounding.
The continued first-half growth in both cash and personal remittances underscores the role of overseas Filipino income in supporting household purchasing power and overall domestic demand.
Remittances also provide the economy with a recurring source of foreign exchange, helping connect earnings generated abroad with consumption, savings, investment, and other financial needs at home.
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