MANILA, Philippines — Personal remittances from Overseas Filipinos (OFs) reached US$3.02 billion in February 2025, a 2.6 percent increase from US$2.95 billion recorded in the same month last year, according to the Bangko Sentral ng Pilipinas (BSP).

In its report, the rise was attributed to higher remittances from both land-based and sea-based Filipino workers abroad.

For the first two months of the year, total personal remittances amounted to US$6.27 billion, up 2.7 percent from US$6.10 billion during the January-February period of 2024.

Cash remittances sent through banks also rose, hitting US$2.72 billion in February, a 2.7 percent increase from US$2.65 billion in the same month last year. On a year-to-date basis, bank-processed remittances totaled US$5.63 billion, up 2.8 percent from US$5.48 billion in the same period of 2024.

The United States, Saudi Arabia, Singapore, and the United Arab Emirates were among the countries that contributed most to the growth. 

The U.S. remained the top source of remittances, followed by Singapore and Saudi Arabia.