OFW remittances increased by 3.1% to $2.86-B as of end-April
OFW remittances increased by 3.1% to $2.86-B as of end-April
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00:00In April 2024, personal remittances from overseas Filipinos increased by 3.1% to 2.86 billion U.S.
00:07dollars compared to the same month of the previous year. This increase was mainly due to remittances
00:13from both land-based workers with long-term contracts and sea and land-based workers with
00:18short-term contracts. Cash remittances through banks also saw growth reaching 2.56 billion U.S.
00:25dollars. This increase in remittances was attributed to growth in receipts from countries
00:30such as the United States, Saudi Arabia and Singapore.