Remittance growth cools in July

Manila, Philippines – Remittances rose in July, albeit at a slower pace, to breach the $3-billion mark for the first time in seven months, central bank data released on Monday showed.

Money sent home by Filipinos working and living abroad reached $3.18 billion in July 2025, marking a 3 percent increase from $3.08 billion in July 2024.

That clip moderated from June’s 3.7 percent and last year’s 3.1 percent.

Of that figure, land-based Filipinos abroad accounted for the much bigger share of $2.59 billion, up 3 percent year-on-year, while the sea-based – mariners and sailors - accounted for the smaller share of $585 million, an increase of 3.1 percent.

Cumulative cash remittances rose from $19.33 billion to $19.93 billion for the seven months ending July this year, indicating a 3.1 percent growth.

The United States remained the top source of remittances to the Philippines during the January to July period, followed by Singapore and Saudi Arabia.

Business News Anchor Lois Calderon contributed to this story.