Remittance

The Economy

Personal Remittances rise by 6.6% YoY to US$13.7 Billion in January – May 2021

Personal remittances from overseas Filipinos (OFs) increased by 13.3 percent to US$2.652 billion in May 2021 from US$2.341 billion in May 2020. This brought the cumulative remittances to US$13.68 billion…

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The Economy

Overseas Filipino personal remittances rises by 5.3%—mainly from the USA and Singapore

Personal remittances from overseas Filipinos amounted to US$2.761 billion in February 2021, higher by 5.3% than the recorded figure in February 2020 of US$2.623 billion. The increase in personal remittances…

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The Economy

Remittances, improved external demand to fuel Philippines’ economic recovery

The continued expansion of money being sent back home to the Philippines by overseas Filipino workers along with marked improvement of external demand are projected to fuel the domestic economy’s…

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The Economy

Rollout of Covid-19 Vaccine anticipated to fuel Philippine remittances

An economist forecasts the contraction in remittance inflows to the Philippines to continue in the early part of 2021 before improving amid the rollout of the coronavirus disease (Covid-19) vaccination…

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The Economy

HSBC Exec anticipates Philippine Economy to recover around 6.5% this year

The economy of the Philippines is projected to recover to around 6.5% for this year—largely depending on the re-opening of the domestic economy and containment of COVID-19 infections said an…

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The Economy

Remittances projected to sustain the strength of the Philippine Peso

Inflows of remittances from overseas Filipino workers (OFWs) amidst the pandemic is anticipated to be among the major driving forces of the Philippine Peso’s continued strength for 2021. In a…

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The Economy

Economic recovery, vaccine rollout projected to fuel remittances to the Philippines

Continuous global demand for Filipino medical workers along with the eventual rollout of the Covid-19 vaccines are projected as among the drivers of remittance inflows to the Philippines this year.…

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The Economy

Personal remittances grow by 2.5% in October 2020

Personal remittances from Overseas Filipinos (OFs) grew by 2.5% year-on-year to US$3.044 billion in October 2020 from US$2.969 billion in October 2019. The growth was attributed to the increase in…

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The Economy

Strengthened partnerships is key to soften impact of COVID-19 on OFW Remittances

The Bank of the Philippine Islands (BPI) sees the important role of strengthened partnerships with various remittance tie-ups in cushioning the impact of the pandemic on remittances from overseas Filipinos…

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Business

BPI, MoneyGram boost partnership with expanded services for overseas Filipinos

The Bank of the Philippine Islands (BPI) has strengthened its partnership with MoneyGram, which has waived its sending fees to an expanded list of countries from where overseas Filipinos send…

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The Economy

Philippine economy projected to rebound by 4% in 2021, down 0.4% for 2020

The Philippine economy is projected to weaken by 0.4% this year in part to the presumptive 5% contraction in remittances due to the ongoing COVID-19 global pandemic. However, the economy…

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Business

BPI partners with PERA HUB to widen reach for remittances nationwide

The Bank of the Philippine Islands (BPI) has partnered with PERA HUB, a leading cash and payment-related transaction center, to provide remitters abroad more options to send money to loved…

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The Economy

Outlook of remittance to the Philippines remains optimistic for remainder of year, recent decline seen as temporary

Despite the repatriation of overseas Filipino workers (OFWs) due to the ongoing onslaught of the COVID-19 global pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno remained optimistic on the…

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The Economy

With overseas Filipinos losing jobs abroad, growth in remittance downgraded to 2% for the Philippines

For the Philippines, remittances are among the significant growth drivers of the economy—accounting for roughly 9% of annual domestic output. However, remittance from overseas Filipino workers (OFWs) this year has…

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Over 4 Million Filipinos Now Live and Work in the United States

The number of Overseas Filipino Workers (OFWs) who worked abroad at anytime during the period April to September 2018 was estimated at 2.3 million. Overseas Contract Workers (OCWs) with existing…

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Personal remittances from Overseas Filipinos reaches US$10.8 billion in first four months of 2019

Manila, June 19 — Personal remittances from Overseas Filipinos (OFs) grew by 3.7 percent year-on-year to US$2.7 billion in April 2019 from US$2.6 billion in April 2018. On a cumulative…

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PayPal to create more than 1,000 jobs in new Manila operation

MANILA – Leading global payments system PayPal plans on creating more than 1,000 jobs in the next few years with the opening of its new office in the Philippines. PayPal announced…

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Personal Remittances Grow Markedly

Personal Remittances Grow Markedly in November 2016; Year-to-Date Level Reaches US$26.9 Billion Personal remittances from overseas Filipinos (OFs) reached US$2.4 billion in November 2016, rising by 18.4 percent from the…

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Foreign Direct Investments Reach US$6.2 Billion

Foreign direct investments (FDI) net inflows reached US$6.2 billion in the first 10 months of 2016. This was 22.2 percent higher than the US$5.1 billion net inflows posted in the…

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Personal Remittances rise by 6.6% YoY to US$13.7 Billion in January – May 2021

Overseas Filipino personal remittances rises by 5.3%—mainly from the USA and Singapore

Remittances, improved external demand to fuel Philippines’ economic recovery

Rollout of Covid-19 Vaccine anticipated to fuel Philippine remittances

HSBC Exec anticipates Philippine Economy to recover around 6.5% this year

Remittances projected to sustain the strength of the Philippine Peso

Economic recovery, vaccine rollout projected to fuel remittances to the Philippines

Personal remittances grow by 2.5% in October 2020

Strengthened partnerships is key to soften impact of COVID-19 on OFW Remittances

BPI, MoneyGram boost partnership with expanded services for overseas Filipinos

Philippine economy projected to rebound by 4% in 2021, down 0.4% for 2020

BPI partners with PERA HUB to widen reach for remittances nationwide

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Outlook of remittance to the Philippines remains optimistic for remainder of year, recent decline seen as temporary

With overseas Filipinos losing jobs abroad, growth in remittance downgraded to 2% for the Philippines

Over 4 Million Filipinos Now Live and Work in the United States

Personal remittances from Overseas Filipinos reaches US$10.8 billion in first four months of 2019

PayPal to create more than 1,000 jobs in new Manila operation

Personal Remittances Grow Markedly

Foreign Direct Investments Reach US$6.2 Billion

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