Philippine Remittances Up 3.2% YoY in August

Cash remittances coursed through banks in the Philippines rose by 3.2% year-on-year to USD 2.98 billion August 2025 from USD 2.89 billion in the same month last year. The increase was mainly driven by higher remittances from both land-based workers (3%) and sea-based workers (3.8%). From January to August, cash remittances advanced by 3.1% to USD 22.91 billion, primarily supported by increased inflows from the US, Singapore, and Saudi Arabia. By country of origin, the US remained the top source, accounting for 40.4% of total remittances, followed by Singapore (7.1%), Saudi Arabia (6.3%), Japan (4.9%), and the United Kingdom (4.8%). Meanwhile, personal remittances—which include bank transfers, informal channels, and in-kind transfers—grew to USD 3.31 billion in August, up 3.2% from USD 3.2 billion a year earlier. Cumulative personal remittances for January to August reached USD 25.51 billion, also marking a 3.1% gain from USD 24.74 billion in the same period in 2024.