MANILA — Cash remittances from overseas Filipinos reached $3.24 billion in July, the Bangko Sentral ng Pilipinas said Tuesday.
The BSP said this is up by 1.9 percent from the $3.18 billion seen in July last year.
Most of the remittances came from the United States, Singapore, and Saudi Arabia.
Meanwhile, personal remittances — which include cash sent through banks and informal channels, as well as remittances sent in kind — hit $3.60 billion in July, from $3.53 billion in July last year.
Money sent home by Filipinos working abroad is one of the Philippine economy’s most vital lifelines. Remittances power domestic consumption and drive economic growth.
Household consumption grew by 2.8 percent in the second quarter of 2026, slower than the 5.2-percent growth in the second quarter of 2025, the Philippine Statistics Authority said.