By Katherine K. Chan, reporter
Money sent home by Filipinos abroad grew by 3% yr on yr in October, the slowest pace in five months, the Bangko Sentral ng Pilipinas (BSP) said on Monday.
Money remittances coursed through banks climbed by 3% to $3.171 billion in October from $3.009 billion in the identical month last yr, data from the central bank showed.
This was the slowest growth posted since May when remittances rose by 2.9%.
Nevertheless, October still marked the best monthly remittance level in three months or for the reason that $3.179 billion posted in July.
“Money remittances from overseas Filipinos (OF) totaled $3.17 billion in October 2025 and $29.20 billion in January-October 2025,” the central bank said in an announcement.
The USA remained the highest source of remittances to the Philippines within the January October period, followed by Singapore and Saudi Arabia.
Month on month, remittances grew by 1.6% from $3.121 billion previously.
Within the ten-month period, money remittances reached $29.202 billion, up 3.2% from $28.304 billion seen a yr ago.
Meanwhile, personal remittances, which include each money coursed through banks and informal channels and in-kind remittances, rose by 3% to $3.519 billion in October from $3.415 billion a yr earlier.
Personal remittances likewise recorded a 3.2% annual growth with a complete of $32.493 billion as of October from $31.487 billion previously.