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Overseas Filipinos’ Remittances See Steady Growth in Early 2024.✨📈

Remittances from Overseas Filipinos (OFs) experienced a steady increase in early 2024. In March, personal remittances rose by 2.6% to $3.05 billion, up from $2.97 billion in March 2023. This growth was primarily driven by remittances from both long-term and short-term workers abroad.😱

The main contributors to this growth were remittances from the U.S., Saudi Arabia, U.A.E., and Singapore, with the U.S. having the largest share.