Philippines remittances hit USD 3.0B in August 2025

Cash remittances sent by Overseas Filipinos (OFs) reached USD 2.98 billion in August 2025, marking a 3.2 percent increase from USD 2.89 billion in the same month last year.

The growth was attributed to higher inflows from both land-based and sea-based workers, according to the latest central bank data.

Land-based OFs sent USD 2.35 billion in August 2025, reflecting a 3.0 percent year-on-year increase. Sea-based OFs contributed USD 626 million, up 3.8 percent from the previous year’s level.

From January to August 2025, total cash remittances climbed by 3.1 percent to USD 22.91 billion, compared to USD 22.22 billion in the same period in 2024.

The United States remained the leading source of remittances during the first eight months of 2025, followed by Singapore and Saudi Arabia.

Remittance data may reflect the location of correspondent banks rather than the sender’s actual country, with many flows routed through U.S.-based financial institutions.

The August increase in cash remittances also drove up personal remittances, which include informal transfers and in-kind support, by 3.2 percent to USD 3.31 billion.

Year-to-date personal remittances rose to USD 25.51 billion in the January–August 2025 period, up from USD 24.74 billion during the same months in 2024.

On a seasonally adjusted basis, personal remittances grew by 0.2 percent from the previous month.

Remittances remain a critical pillar of the Philippine economy, supporting household spending, sustaining foreign exchange reserves, and boosting consumer-driven growth.