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OFW Cash Remittance Hits $14.6Billion In First Half Of 2019

According to Bangko Central ng Pilipinas, cash remittances from Overseas Filipinos hit $14.6 billion in the first 6 months of the year which is 3.2% higher than the previous year.

OFW from the United States remained the biggest source of remittances in the Philippines. It is followed by OFW’s from Saudi Arabia, Singapore, United Arab Emirates, United Kingdom, Japan, Canada, Hong Kong, Germany and Qatar.

Though Saudi Arabia and Qatar cash remittances declined in the middle of the year. Adding up personal remittances and door to door remittances will reach a combined total of $16.3 for the first half of 2019.

Philippines has been a big recipient of remittance which help the economy to improve.

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