MANILA — Money sent home by overseas Filipino workers (OFWs) increased by 3.5 percent year-on-year to USD3.02 billion in January 2026, up from USD2.92 billion in the same month last year, the Bangko Sentral ng Pilipinas said.

Preliminary BSP data showed that the United States remained the top source of remittances, followed by Singapore, Saudi Arabia, Japan, the United Kingdom, and the United Arab Emirates.

Personal remittances—including cash sent through banks and informal channels, as well as remittances in kind—also rose by 3.5 percent, from USD3.24 billion in January 2025 to USD3.36 billion this year.

Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., said the growth reflects the resilience of OFW incomes.

“A weaker peso and steady overseas employment continue to support flows,” Ravelas said.

He noted that uncertainty caused by the Middle East conflict could trigger month-to-month volatility, but added that “unless it leads to widespread job losses or payment disruptions, full‑year remittance growth should stay positive.”

Ravelas advised households to use remittances wisely, saying, “Rebuild savings, reduce debt, and be cautious with spending given ongoing global risks.”