Money sent home by Filipinos abroad reached a historic peak in 2025. Cash remittances climbed to $35.63 billion, the highest level on record, according to the Bangko Sentral ng Pilipinas.
That figure marked a 3.3% increase from $34.49 billion in 2024 and exceeded the central bank’s projection. The inflows were equivalent to 7.3% of the country’s gross domestic product and 6.4% of gross national income.
December alone posted $3.52 billion in cash remittances, up 4.2% year on year and the strongest monthly level recorded. Land-based workers sent $2.83 billion in December, while sea-based workers contributed $0.69 billion.
For the full year, land-based workers remitted $28.49 billion, while sea-based workers sent $6.94 billion. These flows passed through banks and BSP-regulated financial institutions.
When including in-kind transfers and informal channels, personal remittances rose to $39.62 billion in 2025. Economists attributed the surge to steady overseas employment in healthcare, maritime, and professional services.
Seasonal year-end spending also drove higher transfers for tuition, debt payments, and household consumption. In addition, the weaker peso encouraged more dollar conversions, boosting peso-equivalent inflows.
The United States remained the top source, accounting for 39.7% of total remittances. It was followed by Singapore, Saudi Arabia, Japan, the United Kingdom, and the United Arab Emirates. Analysts also noted that some OFWs increased transfers before a 1% remittance tax in the US took effect in 2026.
Remittances continue to anchor domestic consumption, which grew 3.8% in 2025. The central bank projects cash remittances to expand another 3% this year to $36.6 billion. However, economists warn that slower global growth and higher transfer costs could temper momentum in the months ahead.
