FX.co ★ Philippine Remittances Rise 3.7% in June

In June 2025, cash remittances sent through banks in the Philippines experienced a 3.7% increase from the previous year, reaching USD 2.99 billion, up from June 2024's USD 2.88 billion. This growth was propelled by larger remittances from both land-based workers, which rose by 3.7%, and sea-based workers, which went up by 3.5%. During the first half of 2025, cash remittances saw a 3.1% rise, totaling USD 16.25 billion. The primary drivers of this increase were higher inflows from the United States, Singapore, and Saudi Arabia. The U.S. remained the largest source of these funds, contributing 40.1% of the total, with Singapore, Saudi Arabia, Japan, and the United Kingdom following at 7.1%, 6.2%, 5.0%, and 4.9%, respectively. On the other hand, personal remittances—which encompass bank transactions, informal channels, and in-kind contributions—climbed to USD 3.32 billion in June, up 3.7% from the previous year's USD 3.21 billion. From January to June, personal remittances aggregated USD 18.67 billion, reflecting a 3.1% increase compared to USD 18.10 billion during the same period in 2024.