Remittances rise 7% to $2-B in April

MANILA, Philippines – Overseas Filipino worker remittances, in cash and in kind, grew 7% in April 2013 to $2 billion from $1.9 billion a year ago, the Bangko Sentral ng Pilipinas (BSP) reported.

The growth was faster than March’s 3.7% increase, BSP data showed.

The April figure brought total remittances in the first 4 months of 2013 to $7.7 billion, up 6.4% from $7.2 billion the previous year.

Cash remittances, or those coursed through banks, rose 5.7% to $6.9 billion in January to April from $6.5 billion in the same months of 2012.

The primary sources of cash remittances in the 4-month period were:

• United States
• Saudi Arabia
• Canada
• United Kingdom
• United Arab Emirates
• Singapore
• Japan

“Remittances remained robust on the back of sustained demand for skilled Filipino manpower in various countries worldwide,” BSP Governor Amando Tetangco Jr. said in a statement.

“The Philippine Overseas Employment Administration (POEA) reported that, of the total approved 367,738 job orders for the period January-May 2013, more than 30% represented proceed job orders largely for service, production, and professional, technical and related personnel,” he added.

The job orders came from employers in Saudi Arabia, United Arab Emirates, Taiwan, Kuwait, Qatar and Hong Kong. – Rappler.com