Personal remittances rise by 4% year-on-year in September
Personal remittances from Overseas Filipinos (OFs) in September reached $3.15 billion, four percent higher than the $3.03 billion recorded in the same month last year.
This resulted in cumulative remittances rising by 3.1 percent in the first three quarters to $26.49 billion from $25.70 billion registered in the comparable period in 2021.
Personal remittances from Overseas Filipinos (OFs) in September reached $3.15 billion, 4 percent higher than the $3.03 billion recorded in the same month last year.
This resulted in cumulative remittances rising by 3.1 percent in the first three quarters to $26.49 billion from $25.70 billion registered in the comparable period in 2021.
The expansion in cash remittances in September was due to the growth in receipts from land-based and sea-based workers.
The growth in cash remittances from the United States, Saudi Arabia, Singapore, and Qatar contributed largely to the increase in remittances in the first three quarters.
In terms of country sources, the US posted the highest share of overall remittances in the first nine months of 2022, followed by Singapore and Saudi Arabia. BSP
