Philippines remittances reach $20.39 billion in first seven months of 2026

Remittances sent to the Philippines by overseas workers reached $20.39 billion during the first seven months of 2026, representing a 2.3% increase compared to the same period in the previous year. According to preliminary data from the Bangko Sentral ng Pilipinas (BSP), these inflows continue to serve as a vital source of external financing and support for domestic household consumption.

In July 2026 alone, cash remittances rose to $3.24 billion, a 1.9% year-on-year increase. The United States remains the primary source of these funds, accounting for approximately 39.7% to 41.9% of reported inflows. Other significant contributors include Singapore, Saudi Arabia, and the United Arab Emirates.

Breakdowns by worker type show that land-based workers contributed $16.35 billion, while sea-based workers contributed $4.04 billion. Regional data indicates that workers in the Gulf Cooperation Council (GCC) countries play a major role, with remittances from Kuwait specifically rising to $342.13 million in the first seven months of the year.