Overseas Filipino remittances up 3.2% in August – BSP

Cash remittances from overseas Filipinos (OFs) rose by 3.2% to $2.98 billion in August 2025 from $2.89 billion a year earlier, buoyed by higher inflows from both land- and sea-based workers, according to recent data from the Bangko Sentral ng Pilipinas (BSP).

Land-based workers accounted for $2.35 billion, up 3% year-on-year, while sea-based workers contributed $626 million, an increase of 3.8%.

From January to August 2025, cash remittances reached $22.91 billion, up 3.1% from $22.22 billion during the same period last year. The United States remained the top source of inflows, followed by Singapore and Saudi Arabia.

The BSP said personal remittances, which include both cash transfers and goods sent home, also increased by 3.2% to $3.31 billion in August. Year-to-date personal remittances climbed 3.1% to $25.51 billion.

Cash remittances refer to funds sent by Filipinos abroad through formal banking channels. These inflows serve as a lifeline for millions of households, financing daily expenses, education, and small businesses, while also providing a steady source of foreign exchange that supports the peso and helps narrow the country’s current account deficit.