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Philippines: Overseas remittances rise 16 percent in August

Overseas Philippine workers sent home 2.6 billion USD in August, a surge of 16 percent year on year, according to bank sources.
Philippines: Overseas remittances rise 16 percent in August ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) - Overseas Philippine workers sent home 2.6 billion USD in August, a surge of 16 percent year on year, according to bank sources.

Bangko Sentral ng Pilipinas reported that so far this year, personal remittances from January to August rose by 4.4 percent to 19.5 billion USD from 18.7 billion USD during the same period last year.

Cash remittances sent through banks rose by 16.3 percent in August to 2.3 billion USD.

About 80 percent of overseas Philippine workers’ cash remittances came from the United States, Saudi Arabia, the United Arab Emirates, Singapore, the United Kingdom, Japan, Qatar, Kuwait, China's Hong Kong, and Germany.-VNA

VNA
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