Overseas Filipino Workers Boost Remittances in September

Cash remittances from overseas Filipino workers (OFWs) saw a 2.6% increase in September, mainly driven by the demand for healthcare and maritime workers.

The Bangko Sentral ng Pilipinas reported that remittances through banks reached $2.91 billion for the month. The growth in remittances for the first nine months of the year was 2.8%, totaling $24.49 billion, with significant contributions from the United States, Saudi Arabia, and Singapore.

Personal remittances, which include inflows in kind, also rose by 2.6% to $3.23 billion in September, marking a slight deceleration compared to previous months​​​​​​.

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