UAE remains key source as Philippine remittances climb to $3.24b in July

The Philippines received $3.24 billion in remittances from overseas Filipino workers (OFWs) in July, marking a 1.9 percent year-on-year increase according to data from the Bangko Sentral ng Pilipinas. This figure surpassed the $3.18 billion recorded in July 2025, underscoring the consistent strength of remittance flows from Filipinos working abroad.

The United States remained the primary source of remittances, contributing 41.9 percent of the total inflows. Saudi Arabia followed with 7.8 percent, while Singapore accounted for 6.3 percent. The UAE, however, stood as the fourth-largest source at 5.5 percent, closely trailed by the UK at 4.6 percent. These figures, based on reported remittance transactions by type of worker, particularly land-based OFWs, highlight the UAE's significant role in supporting families in the Philippines through financial links, contributing to household needs and spending.

Additionally, personal remittances, encompassing bank transfers, informal channels, and non-monetary contributions, also grew in July on a seasonally adjusted basis, indicating that the rise in remittances was not solely due to seasonal patterns, but rather reflects stronger underlying flows from overseas Filipinos. The growth in remittances, encompassing both cash and personal transactions, bolstered household consumption and overall economic activity in the Philippines during the January to July 2026 period.

The Philippine central bank noted that these inflows provided ongoing support to domestic economic activity, while also serving as a crucial source of external financing for the Philippine economy, offering foreign currency inflows from Filipino workers employed overseas. The UAE's 5.5 percent share underscored its critical position as a key remittance corridor for the Philippines, reflecting the country's enduring role as a destination for Filipino workers.

The latest figures highlighted the continued importance of OFWs, especially those based in the UAE, in providing financial support to families back home and contributing to the Philippine economy.