MANILA — Philippine cash remittances climbed to a record $35.634 billion in 2025, up 3.3 percent from $34.493 billion in 2024, according to preliminary data released by the Bangko Sentral ng Pilipinas (BSP).
December inflows helped lift the annual total. Cash remittances coursed through banks reached $3.522 billion in December 2025, a 4.2 percent increase from $3.380 billion in December 2024 and higher than the $2.910 billionrecorded in November 2025.
Cash remittances refer to transfers sent through formal banking channels and represent a major component of the country’s external receipts.
The BSP also reported that personal remittances, which include cash transfers as well as compensation of employees and other current transfers, reached a record $36.619 billion in 2025. In December alone, personal remittances totaled $3.892 billion.
By type of worker, remittances from land-based overseas Filipinos accounted for $2.83 billion of December inflows, while sea-based workers sent $0.69 billion, based on BSP data.
The United States remained the largest source of cash remittances, accounting for 39.7 percent of the total. Other major contributors included Singapore (7.3 percent), Saudi Arabia (6.6 percent), Japan (5.0 percent), and the United Kingdom and the United Arab Emirates (4.6 percent each). Additional source economies cited were Canada (3.5 percent), Qatar (2.9 percent), Taiwan (2.8 percent), and Hong Kong (2.5 percent).
The BSP has noted that remittance data are attributed to the country where the remitting institution is located. Transfers coursed through global financial centers may therefore be recorded under those jurisdictions even if the overseas Filipino worker is based elsewhere.
Remittances remain one of the Philippines’ most stable sources of foreign exchange and continue to support household consumption and external sector stability. The BSP releases remittance data monthly as part of its monitoring of balance of payments developments.
