The Market Monitor Minding the Nation's Business
Money sent home by overseas Filipinos (OFs) continued to climb, rising by 3.2 percent in August 2025 to USD2.98 billion from USD2.89 billion in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported Wednesday.
Remittances from land-based workers reached USD2.35 billion, while those from sea-based Filipinos totaled USD626 million. The sustained inflows brought total cash remittances for January to August to USD22.91 billion, up 3.1 percent from USD22.22 billion in the same period last year.
The United States remained the top source of remittances, followed by Singapore and Saudi Arabia.
According to the BSP, the steady growth in cash inflows also boosted personal remittances—which include money sent through informal channels and in-kind transfers—by 3.2 percent to USD3.31 billion in August from USD3.20 billion last year.
Cumulative personal remittances for the first eight months of 2025 reached USD25.51 billion, up from USD24.74 billion a year earlier, underscoring the vital role of overseas Filipinos in supporting the country’s economy and household consumption.