MANILA — Money sent home by overseas Filipino workers surged to USD 3.02 billion in January 2026, marking a 3.5 percent increase compared to USD 2.92 billion recorded in the same month last year.
According to preliminary figures from the Bangko Sentral ng Pilipinas (BSP) released Monday, the United States remained the top source of these remittances, with Singapore, Saudi Arabia, Japan, the United Kingdom, and the UAE also contributing significantly.
Personal remittances, encompassing both cash transfers through formal and informal channels as well as remittances in kind, grew from USD 3.24 billion in January 2025 to USD 3.36 billion this year, reflecting steady inflows from overseas Filipino workers.
Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., said the uptick demonstrates the continued resilience of OFW earnings.
“A weaker peso along with consistent employment abroad supports remittance inflows,” Ravelas explained, while noting that regional conflicts in the Middle East could cause short-term fluctuations.
He added that, barring widespread job disruptions, remittance growth for the full year is likely to remain positive. Ravelas advised households to prioritize financial prudence by saving, paying down debt, and managing expenses carefully amid ongoing global risks.
elamigo/xf
