Cash remittances to the Philippines grew 3.7 percent year-on-year to $2.99 billion in June 2025, the highest in six months, data from the Bangko Sentral ng Pilipinas (BSP) showed Friday.
It was the highest contribution from overseas Filipinos since it reached $3.38 billion in December 2024.
Cash remittances refer to cash sent by land-based and sea-based workers through the banking system.
Land-based overseas Filipinos accounted for the largest share of $2.43 billion, with a growth rate of 3.7 percent year-on-year.
Sea-based OFs accounted for $555 million of the total remittances, up by 3.5 percent year-on-year.
Cumulative cash remittances from January to June 2025 also grew 3.1 percent to $16.75 billion from $16.25 billion a year ago.
The United States of America remained as the top source of remittances to the Philippines, followed by Singapore and Saudi Arabia.
The BSP said the increase in June cash remittances also drove the 3.7-percent growth in personal remittances to $3.33 billion in June 2025.
Personal remittances cover cash sent through banks and informal channels as well as remittances in kind. Personal remittances are computed as the sum of net compensation of employees and capital transfers between households
Cumulatively, this marked a 3.1 percent increase in personal remittances from $18.10 billion last year to $18.67 billion in the first half of 2025.
The strong growth in remittances supported the 8.2 percent second-quarter growth in gross national income (GNI), a broader measure of economic output.
 reported that contributions from overseas Filipinos boosted personal remittances and supported the country's economic growth.){kind=link}