Cash remittances to the Philippines coursed through banks reached $16.753 billion in the first six months of 2025, up 3.1 percent from $16.247 billion a year earlier, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
For June alone, remittances from overseas Filipinos (OF) rose 3.7 percent to $2.987 billion from $2.882 billion in the same month last year.
Of that figure, land-based OFs accounted for the much bigger share of US$2.43 billion (up 3.7 percent year-on-year), while the sea-based OFs accounted for the smaller share of US$555 million (up 3.5 percent).
The BSP said transfers from land-based overseas Filipinos continued to grow faster than those from sea-based workers, with the United States remaining as the top source of inflows.The rise in cash remittances drove an increase in personal remittances as well, the BSP said. Personal remittances include cash sent through banks and informal channels as well as remittances in kind.
In June this year, personal remittances grew to $3.33 billion, up 3.7 percent, from $3.21 billion in June 2024.
Cumulative personal remittances marked a 3.1 percent increase to $18.67 billion in January-June 2025 from $18.10 billion recorded in January-June 2024, BSP data showed.
