Cash remittances to the Philippines rose to a seven-month high in July 2025, growing 3.0 percent from a year earlier to $3.18 billion, data from the Bangko Sentral ng Pilipinas (BSP) showed Monday.
The total was up from $3.08 billion in July 2024 and was the highest since remittances reached $3.38 billion in December 2024.
Remittances from sea-based overseas Filipino workers (OFWs) grew slightly faster at 3.1 percent in July, while money sent home by land-based OFWs rose 3.0 percent.
The BSP said that of the tally, land-based OFWs accounted for $2.59 billion, while the remaining $585 million came from sea-based OFWs.
Cumulative cash remittances in the first seven months of 2025 also increased 3.1 percent to $19.93 billion from $19.33 billion in the same period last year.
Most of the remittances came from the United States, followed by Singapore and Saudi Arabia.
Personal remittances, which include cash and in-kind remittances sent through banks and informal channels, also grew 3.1 percent to $3.53 billion in July from $3.43 billion a year earlier.
Cumulative personal remittances for the January-to-July period were up 3.1 percent, reaching $22.21 billion from $21.53 billion in 2024.
Jonathan Ravelas, a senior adviser at Reyes Tacandong & Co., said the rise in July remittances was “no accident,” noting it was driven by the start of the school season, a stronger dollar against a weaker peso and global job stability.
“Families need cash for tuition and supplies. A weaker peso means OFWs send more to maximize value,” Ravelas said.
Ravelas said sea-based workers have seen better deployment this year, which contributed to global job stability.
“Remittances remain a backbone of household spending. It’s a signal that OFWs are still powering the economy—quietly but consistently,” he said.
