Personal remittances from Overseas Filipinos (OFs) grew by 2.9 percent to $3.24 billion in January 2025 from the $3.15 billion registered in January 2024, the Bangko Sentral ng Pilipinas said Monday.

The increase was observed in remittances from both land-based and sea-based workers.

Of the personal remittances from OFs, cash remittances coursed through banks reached $2.92 billion in January 2025, higher by 2.9 percent than the $2.84 billion posted in January 2024.

The growth in cash remittances from the Saudi Arabia, United States, Singapore, and the United Arab Emirates mainly contributed to the increase in remittances in January 2025. In terms of country sources, the US accounted for the largest share of overall cash remittances in January 2025, followed by Singapore and Saudi Arabia. Bangko Sentral ng Pilipinas