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Saturday, May 26, 2018

Philippine remittances rise to 7.8b USD in Q1

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Personal remittances from overseas Filipinos has reached 7.8 billion U.S. dollars in the first quarter of 2018, registering 1.3 percent year-on-year growth, the Central Bank of the Philippines said on Wednesday.

Central Bank officer-in-charge Diwa Guinigundo said the bulk, or 77.5 percent of personal remittances, was from land-based workers with work contracts of one year or more, which summed up to 6.1 billion U.S. dollars, while 20 percent derived from sea-based and land-based workers.

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