Cash remittances at $32.54 billion, personal remittances hit record $36.14B in 2022

ABS-CBN News

<p>MANILA - Cash remittances from overseas Filipinos coursed through banks reached $32.54 billion in 2022, higher by 3.6 percent from $31.42 billion in 2021, data from the Bangko Sentral ng Pilipinas released Wednesday showed.</p><p>In December, cash remittances grew 5.8 percent to $3.16 billion, the central bank said in a statement.</p><p>&quot;The expansion in cash remittances in December 2022 was due to the growth in receipts from land- and sea-based workers,&quot; the BSP said.</p><p>Growth in cash remittances from the US, Saudi Arabia, Singapore, Qatar and the United Kingdom contributed largely to the increase for the year, the BSP said.</p><p>The US posted the highest share of overall remittances in 2022, followed by Singapore and Saudi Arabia, it added.</p><p>Overall personal remittances, meanwhile, grew to an all-time high of $36.14 billion, higher by 3.6 percent than the $34.88 billion in 2021, data showed.</p><p>In December, personal remittance grew 5.7 percent to $3.49 billion from $3.30 billion in the same comparable period, the BSP said.</p><p>The BSP said the full-year level accounted for 8.9 percent and 8.4 percent of the country&#x27;s gross domestic product and gross national income, respectively.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/business/09/02/22/holiday-ofw-remittances-to-strengthen-peso-temporarily">Seasonal OFW remittances seen to strengthen peso temporarily: economist</a></li>	<li><a href="https://news.abs-cbn.com/business/01/16/23/cash-remittances-hit-264-b-in-november-up-57-pct">Cash remittances from overseas Filipinos hit $2.64 billion in November, up 5.7 pct</a></li>	<li><a href="https://news.abs-cbn.com/business/12/15/22/cash-remittance-up-35-percent-in-october">Cash remittance up 3.5 percent in October: BSP</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2207217" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Cash remittances from overseas Filipinos coursed through banks reached $32.54 billion in 2022, higher by 3.6 percent from $31.42 billion in 2021, the BSP said.

Cash remittances hit $32.54 billion in 2022: BSP

Cash remittances at $32.54 billion, personal remittances hit record $36.14B in 2022 | ABS-CBN

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Cash remittances at $32.54 billion, personal remittances hit record $36.14B in 2022

Cash remittances at $32.54 billion, personal remittances hit record $36.14B in 2022

ABS-CBN News

Published Feb 15, 2023 12:34 PM PHT

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Updated Feb 15, 2023 03:38 PM PHT

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