Money sent home by overseas Filipinos went up by 3 percent to $3.18 billion in July this year from $3.08 billion July 2024, the Bangko Sentral ng Pilipinas (BSP) said.

Data released Monday showed that cash remittances from sea-based overseas Filipinos (OFs) increased slightly faster than funds from land-based OFs.

Remittances from sea-based workers increased by 3.1 percent to $585 million, while those from land-based workers increased by 3 percent to $2.59 billion.

For January to July this year, cash remittances reached $19.93 billion, up by 3.1 percent from the $19.33 billion recorded in the same period last year.

The United States remained the top source of remittances to the Philippines from January to July 2025, followed by Singapore and Saudi Arabia.

"The increase in cash remittances drove an increase in personal remittances," said the BSP.

Personal remittances, meanwhile, which cover cash sent through banks and informal channels, as well as remittances in kind, amounted to $3.53 billion in July, higher by 3.1 percent than the $3.43 billion in July last year.

From January to July 2025, cumulative personal remittances rose by 3.1 percent to $22.21 billion from $21.53 billion in 2024.

PNA PHOTO