Cash Remittances Rise to US$2.7B in May

Cash remittances to the Philippines continued to grow in May of this year, with remittances from sea-based overseas Filipinos (OFs) increasing faster than funds from land-based OFs.

Filipinos abroad sent US$2.66 billion in cash remittances through banks in May 2025, up by 2.9 percent from the US$2.58 billion recorded in May 2024.

Of that figure, land-based OFs accounted for the much bigger share of US$2.12 billion (up 2.8 percent year-on-year), while the sea-based OFs accounted for the smaller share of US$536 million (up 3.1 percent).

In January-May 2025, cumulative cash remittances rose by 3.0 percent to US$13.77 billion from the US$13.37 billion registered in the same period last year.

The United States remained the top source of remittances to the Philippines during January-May 2025, followed by Singapore, and Saudi Arabia.1

The increase in cash remittances drove an increase in personal remittances as well. Personal remittances include cash sent through banks and informal channels as well as remittances in kind.

Personal remittances reached US$2.97 billion in May 2025, up by 3.0 percent from US$2.88 billion in May 2024.2

Cumulative personal remittances reached US$15.34 billion in January-May 2025, marking a 3.0 percent increase from the US$14.89 billion recorded in January-May 2024.