Remittances from overseas Filipino workers (OFWs) rose by 4% in April 2025, reaching $3.13 billion, according to the Bangko Sentral ng Pilipinas (BSP).
The increase marks the second straight month of higher cash inflows, helping support the peso and drive consumer spending despite trade deficits and external pressures. Total remittances for the first four months of 2025 amounted to $9.4 billion, up 2.7% from last year.
The top sources of remittances include the United States, Singapore, Saudi Arabia, and the UAE. Economists say that while the growth helps ease economic strain, more aggressive strategies are needed to balance rising imports and currency volatility. Remittances remain a vital pillar of economic resilience, funding family needs, education, healthcare, and small businesses back home. This steady growth highlights the continued contribution of OFWs to the Philippine economy. | via Dann Miranda | Photo via PNA
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