Personal remittances from Overseas Filipinos (OFs) grew by 2.6 percent to $3.02 billion in February 2025 from the $2.95 billion registered in February 2024.

Both land-based and sea-based workers contributed to the increase in remittances, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.

Correspondingly, cumulative remittances also reached $6.27 billion in January-February 2025, higher by 2.7 percent than the $6.10 billion recorded in January-February 2024.

Of the personal remittances from overseas Filipinos, cash remittances coursed through banks reached $2.72 billion in February 2025, higher by 2.7 percent than the $2.65 billion posted in February 2024.

On a year-to-date basis, cash remittances rose by 2.8 percent to $5.63 billion in January-February 2025 from the $5.48 billion registered in January-February 2024.

The growth in cash remittances from the United States, Saudi Arabia, Singapore, and the United Arab Emirates mainly contributed to the increase in remittances in January-February 2025.

In terms of country sources, the US accounted for the largest share of overall cash remittances in January-February 2025, followed by Singapore and Saudi Arabia. Bangko Sentral ng Pilipinas