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2025-12-16 15:41:36
[Philippine Cash Remittances Hit Three-Month High in October] ⑴ In October 2025, cash remittances through banks in the Philippines increased by 3% year-on-year to US$3.17 billion, compared to US$3.08 billion in the same period last year. ⑵ This is the highest inflow since July last year, when Philippine immigrants remitted US$3.18 billion, but the growth rate has slowed from 3.7% in September. ⑶ From January to October, total cash remittances increased by 3.2% to US$29.2 billion, mainly due to increased remittances from the United States, Singapore, and Saudi Arabia. ⑷ By origin, the United States remains the largest source, accounting for 40.3% of total remittances, followed by Singapore (7.2%), Saudi Arabia (6.4%), and Japan (4.9%). ⑸ Meanwhile, personal remittances, including bank transfers, informal channels, and physical transfers, increased by 3% to US$3.52 billion, compared to US$3.42 billion in the same period last year. (6) From January to October, cumulative personal remittances reached US$32.49 billion, a 3.2% increase compared to US$28.97 billion in the same period of 2024.
