Overseas Filipinos (OFs) have once again demonstrated their monumental impact, driving a significant 2.6% rise in remittances to reach a staggering US$3.02 billion in February 2025, up from US$2.95 billion in February 2024.
Both land-based and sea-based workers continue to fuel this relentless growth, showing no signs of slowing down.
The momentum doesn’t stop there: cumulative remittances skyrocketed to US$6.27 billion in January-February 2025, marking a 2.7% climb compared to the US$6.10 billion recorded over the same period in 2024.
Of these remittances, a commanding US$2.72 billion in cash flowed through banks in February 2025, a 2.7% increase from US$2.65 billion in February 2024. Year-to-date cash remittances also surged by 2.8% to reach US$5.63 billion, crushing last year’s US$5.48 billion benchmark.
Driving this robust growth are heavy inflows from economic powerhouses like the United States, Saudi Arabia, Singapore, and the United Arab Emirates, with the U.S. leading as the dominant source of cash remittances in January-February 2025, followed closely by Singapore and Saudi Arabia.
Overseas Filipinos continue to deliver a financial lifeline that powers the nation’s economy, month after month.
