Remittances in Philippines decreased to 2658389 USD Thousand in May from 2663701 USD Thousand in April of 2025. This dataset provides - Philippines Remittances - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The personal remittances received in the Philippines increased by *** billion U.S. dollars (+* percent) since the previous year. While the growth is steady, with **** billion U.S. dollars, the personal remittances received are at their peak in the observed period. Personal remittances comprise personal transfers and compensation of employees. Personal transfers include all current transfers between resident and nonresident individuals, while the compensation of employees refers to the income of employees who are employed in an economy where they are not resident, as well as of resident employees employed by nonresident entities.

Remittance inflows to GDP (%) in Philippines was reported at 9.6428 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Remittance inflows to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

According to a survey on consumer expectations in the fourth quarter of 2024, **** percent of remittances received by Filipino households with overseas Filipino worker (OFW) were spent on food and other household needs. Among the other popular uses of remittances were for education, medical expenses, and savings.

The Philippines: Remittances, million USD: The latest value from 2023 is 39096.89 million U.S. dollars, an increase from 38048.72 million U.S. dollars in 2022. In comparison, the world average is 4590.03 million U.S. dollars, based on data from 184 countries. Historically, the average for the Philippines from 1977 to 2023 is 13178.49 million U.S. dollars. The minimum value, 339 million U.S. dollars, was reached in 1977 while the maximum of 39096.89 million U.S. dollars was recorded in 2023.

Overseas Filipino workers (OFWs) based in the United States were the leading source of remittances received by the Philippines in 2024. Remittances from the U.S. amounted to around ** billion U.S. dollars. Singapore follows, with remittances amounting to around **** billion U.S. dollars. Economic contribution of remittances  Remittances, in case or kind, have been a fundamental source of income in the Philippines. In fact, in 2020, the county ranked second to India when it comes to the total personal remittances received in the Asia Pacific region. Overall, personal remittances contributed about **** percent to the country's GDP. Demographics of OFWs  Of the **** million Filipino labor migrants employed worldwide in 2023, women accounted for the higher share of OFWs compared to men. In terms of age, most women OFWs were between the age of 30 and 34, while the majority of male OFWs were 45 years old and above.

Philippines CES: HH: Use of OFW Remittances: Savings data was reported at 35.500 % in Dec 2018. This records an increase from the previous number of 32.700 % for Sep 2018. Philippines CES: HH: Use of OFW Remittances: Savings data is updated quarterly, averaging 39.650 % from Mar 2007 (Median) to Dec 2018, with 48 observations. The data reached an all-time high of 50.400 % in Mar 2010 and a record low of 7.200 % in Mar 2007. Philippines CES: HH: Use of OFW Remittances: Savings data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.H010: Consumer Expectation Survey: Households with Overseas Filipino Workers: Use of Remittances.

Personal remittances, received (% of GDP) in Philippines was reported at 8.7257 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Workers' remittances and compensation of employees, received (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

According to the preliminary figures reported for 2024, the value of cash remittances sent to the Philippines by overseas workers reached approximately **** billion U.S. dollars. Most of these remittances came from land-based overseas Filipino workers (OFWs).

Philippines CES: HH: Use of OFW Remittances: Investment data was reported at 5.100 % in Dec 2018. This records an increase from the previous number of 4.200 % for Sep 2018. Philippines CES: HH: Use of OFW Remittances: Investment data is updated quarterly, averaging 5.900 % from Mar 2007 (Median) to Dec 2018, with 48 observations. The data reached an all-time high of 11.200 % in Dec 2013 and a record low of 1.800 % in Mar 2008. Philippines CES: HH: Use of OFW Remittances: Investment data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.H010: Consumer Expectation Survey: Households with Overseas Filipino Workers: Use of Remittances.

The personal remittances received as a share of the gross domestic product in the Philippines decreased by *** percentage points (-5.31 percent) in 2023 in comparison to the previous year. This marks the lowest personal remittances received during the observed period.

Philippines PH: BOP: Current Account: Personal Remittances: Received data was reported at 32.810 USD bn in 2017. This records an increase from the previous number of 31.142 USD bn for 2016. Philippines PH: BOP: Current Account: Personal Remittances: Received data is updated yearly, averaging 5.360 USD bn from Dec 1977 (Median) to 2017, with 41 observations. The data reached an all-time high of 32.810 USD bn in 2017 and a record low of 339.000 USD mn in 1977. Philippines PH: BOP: Current Account: Personal Remittances: Received data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Philippines – Table PH.World Bank: Balance of Payments: Current Account. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.; ; World Bank staff estimates based on IMF balance of payments data.; Sum; Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

Personal remittances, paid (current US$) in Philippines was reported at 310831584 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Workers' remittances and compensation of employees, paid - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Philippines CES: % of Households (HH): Use of OFW Remittances: Food data was reported at 94.400 % in Sep 2018. This records an increase from the previous number of 94.200 % for Jun 2018. Philippines CES: % of Households (HH): Use of OFW Remittances: Food data is updated quarterly, averaging 96.200 % from Mar 2007 (Median) to Sep 2018, with 47 observations. The data reached an all-time high of 98.500 % in Mar 2015 and a record low of 91.800 % in Jun 2007. Philippines CES: % of Households (HH): Use of OFW Remittances: Food data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.H010: Consumer Expectation Survey: Households with Overseas Filipino Workers: Use of Remittances.

Personal transfers, receipts (BoP, current US$) in Philippines was reported at 30805836219 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Workers' remittances, receipts (BoP, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Philippines CES: HH: Use of OFW Remittances: Others data was reported at 3.500 % in Sep 2018. This records a decrease from the previous number of 4.900 % for Jun 2018. Philippines CES: HH: Use of OFW Remittances: Others data is updated quarterly, averaging 3.100 % from Mar 2007 (Median) to Sep 2018, with 47 observations. The data reached an all-time high of 8.400 % in Sep 2008 and a record low of 0.000 % in Jun 2014. Philippines CES: HH: Use of OFW Remittances: Others data remains active status in CEIC and is reported by Bangko Sentral ng Pilipinas. The data is categorized under Global Database’s Philippines – Table PH.H010: Consumer Expectation Survey: Households with Overseas Filipino Workers: Use of Remittances.

Personal remittances, received (% of GDP) of Philippines fell by 4.95% from 9 % in 2022 to 9 % in 2023. Since the 3.32% increase in 2020, personal remittances, received (% of GDP) slumped by 7.25% in 2023. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.

Personal remittances, received (current US$) in Philippines was reported at 39096890142 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Workers' remittances and compensation of employees, received - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Land-based overseas Filipino workers (OFWs) remittances accounted for the highest value of the total remittances sent to the Philippines. In 2024, remittances of land-based OFWs reached approximately ** billion U.S. dollars. In comparison, sea-based OFWs sent ***** billion U.S. dollars in cash remittances.

Preliminary figures revealed that the total value of cash remittances sent to the Philippines by overseas Filipino workers (OFWs) in Canada amounted to approximately **** billion U.S. dollars in 2023. Cash remittances by OFWs in Canada gradually increased since 2016.