By Justine Irish D. Tabile, <\/b>Senior Reporter<\/i><\/p>\n
MONEY SENT HOME by overseas Filipino employees (OFWs) fell to its lowest level in <\/span>nine months in February, the Bangko <\/span>Sentral ng Pilipinas (BSP) reported.<\/span><\/p>\n Preliminary data from the BSP showed money remittances coursed through banks rose by 2.6% to $2.79 billion from $2.72 billion logged in February 2025 but fell 7.7% from $3.02 billion in January.<\/span><\/p>\n Nonetheless, this was the weakest level of remittances because the $2.66 billion in money remittances in May 2025.<\/p>\n The annual remittance growth in February eased from 3.5% growth in January, and was the slowest since 2.5% in June 2024.<\/p>\n Money remittances from land-based employees went up by 2.7% to $2.25 billion in February, while money sent home by sea-based <\/span>employees increased by 2% to $530 million. <\/span><\/p>\n Union Bank of the Philippines (UnionBank) Chief Economist Ruben Carlo O. Asuncion said that the continued annual growth indicates \u201cfundamentally stable\u201d remittances.<\/p>\n \u201cThe (month-on-month) dip in February remittances largely reflects seasonal normalization relatively than a weakening in overseas Filipino labor conditions,\u201d he said in a Viber message, citing strong December and January inflows because of bonuses and holiday\u2011related transfers.<\/p>\n \u201cThis was also compounded by higher living costs abroad, which can have temporarily constrained the power of some overseas Filipinos to send larger amounts,\u201d he added.<\/p>\n Reyes Tacandong & Co. Senior Adviser Jonathan L. Ravelas said that the February remittance data reflect a \u201ctemporary dip, not a red flag.\u201d <\/span><\/p>\n \u201cFebruary will likely be a softer month because of seasonality, and better living costs abroad mean OFWs are being more careful \u2014 whilst remittances still grow 12 months on 12 months,\u201d he said in a Viber message.<\/p>\n For the primary two months of the 12 months, money remittances jumped by 3.1% to $5.81 billion from $5.63 billion a 12 months ago.<\/p>\n Money sent by land-based employees rose by 3.1% to $4.67 billion, while money sent by sea-based employees went up by 2.8% to $1.14 billion.<\/p>\n \u201cAmerica remained the highest source of money remittances to the Philippines in January-February 2026, followed by Singapore and Saudi Arabia,\u201d the BSP said. <\/span><\/p>\n America was the predominant source of money remittances with a 40% share of the entire thus far this 12 months. It was followed by Singapore (7.6%), Saudi Arabia (6.1%), Japan (5.3%), the UK (4.7%), the United Arab Emirates (4.2%), Canada (3.1%), Taiwan (3%), Qatar (2.9%), and Hong Kong (2.7%).<\/p>\n Meanwhile, personal remittances, which include inflows in kind, rose 2.6% to $3.1 billion in February <\/span>from $3.02 billion a 12 months ago. <\/span><\/p>\n Within the January-February period, personal remittances grew by 3.1% to $6.46 billion from $6.27 billion a 12 months earlier.<\/p>\n UnionBank\u2019s Mr. Asuncion said that he expects remittance growth \u201cto moderate but remain positive.\u201d\u00a0<\/span><\/p>\n \u201cFaster inflation and better fuel prices \u2014 particularly those linked to geopolitical tensions within the Middle East \u2014 could weigh on disposable income in host countries, capping near\u2011term growth,\u201d he said.\u00a0<\/span><\/p>\n Mr. Asuncion said remittances are historically resilient, as these are supported by the regular demand for Filipino employees within the healthcare, maritime, and services sectors.<\/p>\n \u201cOverall, barring a pointy deterioration in global employment conditions, remittances should proceed to grow at a low\u2011to\u2011mid single\u2011digit pace, providing a stable buffer for the Philippine external accounts,\u201d he added.<\/p>\n The Asian Development Bank last week flagged remittances as a key vulnerability of the Philippines, noting that over 17% of total remittances come from OFWs within the Middle East.<\/p>\n \u201cLooking ahead, inflation, slower global growth, and better fuel prices linked to Middle East tensions may cap remittance growth within the near term, keeping it in low single digits,\u201d\u00a0 <\/span>Mr. Ravelas said. \u201cBut structurally, remittances remain resilient \u2014 OFWs are likely to step up support during tough times.\u201d <\/span><\/p>\n The BSP projects money remittances to climb by 3% to $36.7 billion by yearend, slower than the three.3% seen last 12 months.<\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" A person counts dollar bills at a money changer in Quezon City, Jan. 15. 2026. \u2014 PHILIPPINE STAR\/MIGUEL DE GUZMAN By Justine Irish D. Tabile, Senior Reporter MONEY SENT HOME by overseas Filipino employees (OFWs) fell to its lowest level in nine months in February, the Bangko Sentral ng Pilipinas (BSP) reported. Preliminary data from […]<\/p>\n","protected":false},"author":1,"featured_media":319496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[4761,3781,2830,2434,17507],"class_list":["post-319495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-9month","tag-cash","tag-february","tag-hit","tag-remittances"],"aioseo_notices":[{"message":"The permalink for this post just changed! 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