MANILA, Feb 17 (NNN-PNA) – The Philippine central bank said today that, personal remittances from overseas Filipinos last year reached a record high of 38.34 billion U.S. dollars, a 3-percent increase from 2023, representing 8.3 percent of the country’s gross domestic product (GDP).
The Bangko Sentral ng Pilipinas (BSP) said, personal remittances from overseas Filipinos reached an all-time high of 3.73 billion dollars in Dec, 2024, three percent higher than the 3.62 billion dollars recorded in Dec, 2023.
The BSP said, the growth in cash remittances from the United States, Saudi Arabia, Singapore and the United Arab Emirates contributed mainly to the spike in remittances last year.– NNN-PNA
