OFW remittances hit highest in 2 years in April

Personal remittances from overseas Filipino workers (OFWs) reached $2.97 billion in April 2025, marking a 4.1% increase compared to the same month last year.

This figure represents the highest level in over two years, since December 2022, but is the lowest in 11 months, since May 2024.

Cash remittances sent through banks grew to $2.66 billion in April 2025, a 4.0% increase from the previous year, which is the fastest pace in 28 months.

For the first four months of 2025, cumulative personal remittances increased by 3.0% to $12.01 billion, while cash remittances reached $11.11 billion, a 3.0% rise year-on-year.

The growth in remittances may be attributed to seasonal factors, Holy Week-related spending by families in the Philippines, and stable overseas employment.

The United States continued to be the top source of remittances, accounting for 40% of the total, followed by Singapore and Saudi Arabia.