Philippine remittances up 4.4% in June

MANILA, Aug 15 (Xinhua) — Personal remittances from overseas Filipinos reached US$3.1 billion on Monday, the central bank of the Philippines said, up 4.4% from a year earlier.

According to Bangko Sentral ng Pilipinas (BSP), June remittances boosted cumulative personal remittances in the first half of the year by 2.8% to $17.1 billion.

BSP said the United States, Saudi Arabia, Japan, Qatar and Singapore were the main contributors to the increase in remittances during the period.

Filipinos have been working and settling across borders for the past few decades, and personal remittances remain a major source of foreign currency inflows to the Southeast Asian country.

In 2021, remittances from overseas Filipino workers increased by 5.1% to reach $34.88 billion, or 8.9% of the gross domestic product. Philippine remittances up 4.4% in June

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