July remittances hit 7-month high
Personal remittances from overseas Filipinos rose by two percent to $3.6 billion in July, the highest level since December last year, as money sent home continued to provide steady support to household spending despite modest growth.
Personal remittances from overseas Filipinos rose by two percent to $3.6 billion in July, reaching the highest level since December last year, according to the Bangko Sentral ng Pilipinas (BSP). The July figure of $3.6 billion surpassed both the $3.53 billion sent in July 2025 and the $3.39 billion in June. Remittances, encompassing both cash sent through banks and informal channels, as well as remittances in kind, also saw an increase, growing by 1.9 percent to $3.24 billion in July, with the highest since December 2025.
For the period from January to July, remittances grew by 2.3 percent to $22.73 billion, while cash remittances rose by 2.3 percent to $20.39 billion. Jonathan Ravelas, senior adviser at Reyes, Tacandong & Co., noted that these inflows have consistently supported household consumption and domestic economic activity, highlighting the resilience of remittance flows as a crucial source of external financing and household income.
The US remained the primary source of cash remittances, constituting 39.7 percent of the total for the first seven months, followed by Singapore, Saudi Arabia, Japan, and the United Kingdom.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
