Money sent home by overseas Filipinos (OFWs) grew 3.61 percent year-on-year to $2.91 billion in November 2025, a six-month low since remittances hit its lowest level for the year at $2.66 billion in May.
Data from the Bangko Sentral ng Pilipinas (BSP) showed the figure was higher than $2.81 billion recorded a year earlier, but it was lower than $3.17 billion in October.
Cash remittances from land-based OFWs climbed 3.61 percent from $2.22 billion a year ago to $2.30 billion in November. Meanwhile, remittances from sea-based OFWs jumped 3.60 percent from $585.51 million to $606.59 million.
These brought the eleven-month remittances to $32.11 billion, up 3.21 percent from $31.11 billion in the same period last year.
The BSP said most remittances came from the United States, followed by Singapore and Saudi Arabia.
Personal remittances, which include cash sent through banks and informal channels as well as in-kind remittances, also grew 3.65 percent to $3.24 billion in November.
Reyes Tacandong & Co. senior adviser Jonathan Ravelas said the month-on-month dip in November remittances was just a “timing story”, following higher remittance inflows in October.
“A lot of the holiday money was already sent in October, which is why we saw that month heavy with remittances — partly due to pre‑holiday transfers and even typhoon‑related aid being front‑loaded,” said Ravelas.
“So by November, the flow naturally softens before the big December surge,” said Ravelas.
He said the November figure is not a red flag, but rather a “usual seasonal lull” as OFWs prepared for the holidays and provided aid for typhoon-related expenses.
