Pinoy sailors send home record $6.1B in 2018

Rappler.com
Pinoy sailors send home record $6.1B in 2018
Money sent home by Filipino sailors account for about 19% of all remittances of overseas Filipino workers in 2018

MANILA, Philippines – Filipino sailors sent home a new record high of $6.14 billion or around P318.55 billion* in 2018, party-list group ACTS-OFW announced on Sunday, March 3.

The home deposits from the seafarers comprise 19% of the total remittances of overseas Filipino workers (OFWs) in 2018, which hit an all-time high as well, amounting to $32.21 billion despite the Philippines’ cooling economy.

The total remittances amounted to 9.7% of the country’s gross domestic product, and 8.1% if its gross national income for 2018.

According to data gathered by the ACTS-OFW party list,  the top sources of cash transfers from Filipino sailors last year were from the following countries:

  1. United States – $2.31 billion
  2. Singapore – $563.85 million
  3. Germany – $560.98 million
  4. Japan – $435.82 million
  5. United Kingdom – $331.23 million
  6. Hong Kong – $275.53 million
  7. The Netherlands, $259.12 million
  8. Greece – $174.98 million
  9. Panama – $163.62 million
  10. Cyprus – $125.19 million
  11. Norway – $115.98 million

Filipino seafarers serve in all kinds of maritime vessels, from bulk carriers to cruise ships, serving from the control rooms to the kitchens and down to the engine rooms.

With this, ACTS-OFW called for the funding of state universities and colleges to put up and expand maritime institutes. – Rambo Talabong/Rappler.com

*1$ = P51.88

 

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