Remittances reach first-half high of $3.04 billion in June
MANILA, Philippines — Cash sent home through banks by overseas Filipinos climbed to $3.04 billion in June, the highest monthly total in the first half of 2026, though growth remained modest.
Cash remittances rose 1.7% from $2.99 billion in June 2025, the Bangko Sentral ng Pilipinas reported Monday, August 17.
Remittances from land-based workers increased 1.8% to $2.48 billion, while those from sea-based workers rose 1.4% to $560 million.
For the first six months of 2026, cash remittances grew 2.4% to $17.15 billion from $16.75 billion a year earlier.
The United States accounted for 39.4% of reported cash remittances in the first half, followed by Singapore at 7.2% and Saudi Arabia at 6.3%.
Its share was larger among land-based remittances at 41.7%, compared with 30.4% for sea-based remittances.
The BSP cautioned, however, that the figures reflect where remittance transactions were routed, not necessarily where the money was earned. The United States often appears as the source because many remitting or correspondent banks are based there.
Personal remittances also rise
Personal remittances, a broader measure that includes transfers through banks and informal channels as well as remittances in kind, rose 1.8% to $3.39 billion in June.
On a seasonally adjusted basis, personal remittances increased 0.4% from May.
Personal remittances for the first half climbed 2.4% to $19.12 billion from $18.67 billion in the same period last year.
"Cash and personal remittances also grew in the period of January-June 2026. These inflows continued to support recipient households' income, spending, and overall domestic demand," the BSP said.
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Dollar figures are in U.S. dollars
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