OFW remittances - updates

Rappler's latest stories on OFW remittances

ARTICLE FINDER

OFW remittances recover in July 2019

Sep 17, 2019 - 10:50 AM

Cash remittances coursed through banks rise by 7.5% to $2.6 billion in July

Overseas Filipino remittances rise to $13.7 billion in January-May 2019

Jul 15, 2019 - 7:50 PM

The United States registers the highest share of overall remittances in the first 5 months of 2019 at 36%

Pinoy sailors send home record $6.1B in 2018

Mar 03, 2019 - 11:00 AM

Money sent home by Filipino sailors account for about 19% of all remittances of overseas Filipino workers in 2018

MORE REMITTANCES. Filipino sailors manning the forecastle of a container ship in Bilbao, Spain. Photo by Joachim Affeldt/Shutterstock

Banks urged to post remittance charges online for OFWs

Dec 21, 2018 - 4:39 PM

ACTS-OFW party-list group cites World Bank Remittance Prices report that shows banks remain the most expensive means to send cash to the Philippines

TRANSPARENCY. ACTS-OFW party-list urges banks to post remittance rates. Shutterstock photo

OFW remittances slow down in January-July 2018

Sep 17, 2018 - 8:00 PM

Overseas Filipino workers send a total of $18.5 billion from January to July this year

Hyperinflation, OFW remittances, Trump - Putin | Midday wRap

Jul 17, 2018 - 2:17 PM

Watch Rappler’s midday newscast with Margie de Leon

OFW remittances rise in May 2018

Jul 16, 2018 - 7:35 PM

Overseas Filipino workers have sent $13.2 billion year-to-date, according to the Bangko Sentral ng Pilipinas

An overseas Filipina worker lines up at a remittance center in Lucky Plaza. A lot of overseas Filipino workers send money to the families they support back home. According to the 2014 Survey on Overseas Filipinos released by the Philippine Statistics Authority, 173.2 billion pesos was the total remittance sent by OFWs from April to September 2014.

Lawmaker urges banks to slash OFW remittance charges amid high inflation

Jul 07, 2018 - 1:05 PM

ACTS-OFW Representative Aniceto Bertiz III asks banks to cut charges on OFW remittances to 5%, from the current average of 10.57%

Cash remittance of Filipino seafarers may exceed $6B this year – lawmaker

Jun 25, 2018 - 9:40 PM

'We expect the enlistment of Filipino sailors to increase along with international ship traffic, as the global economy continues to expand,' says ACTS-OFW Representative Aniceto 'John' Bertiz

OFW remittances hit $2.35 billion in April 2018

Jun 18, 2018 - 8:45 PM

The Bangko Sentral ng Pilipinas says remittances sent through banks grew by 12.7% year-on-year, but were lower by 0.4% from March 2018

Philippines posts sharpest drop in remittances in 15 years

May 15, 2018 - 7:16 PM

This comes on the heels of the repatriation of overseas Filipino workers from Middle East countries

Images from Shutterstock

Philippine remittances growth slows down in February

Apr 16, 2018 - 4:00 PM

Cash remittances, or remittances formally channeled through banks, register $2.27 billion in February 2018, representing 4.5% year-on-year growth from the same month a year ago

OF REMITTANCES. Cash remittances from land-based workers and sea-based workers increased by 6.4% and 9.8%, respectively, data from BSP showed. Photo by LeAnne Jazul/Rappler

OFW cash remittances start 2018 strong at $2.37 billion

Mar 15, 2018 - 6:30 PM

Cash remittances or those channeled through banks are up 9.7% from January last year, while personal remittances are also up by 10.8% to $2.65 billion

PH remittances beat gov't target, hit record in 2017

Feb 15, 2018 - 6:25 PM

Cash remittances of overseas Filipinos grow by 4.3% to $28.06 billion, while personal remittances grow by 5.3% to $31.29 billion, surpassing the government target of 4%

Philippine remittances for November 2017 grow by only 2%

Jan 15, 2018 - 8:25 PM

The slowdown in growth could be traced to base effects, as the Philippines recorded an 'unusually high' growth in remittances in November 2016

Remittances drop by 8.3% in September amid Saudi repatriation

Nov 15, 2017 - 9:30 PM

Despite this, total cash remittances for January to September 2017 are still up 3.8% to $20.78 billion

PH remittances for August rise fastest in 5 months

Oct 16, 2017 - 2:50 PM

Cash remittances – money sent through banks and transfer agents – grow by 7.8% to $2.5 billion in August 2017

Globe's GCash partners with Hong Kong-based EMQ for remittances

Sep 04, 2017 - 8:50 PM

With the partnership EMQ users can now send funds to GCash account holders

OFW cash remittances rebound to hit $2.31B in May

Jul 17, 2017 - 9:00 PM

Total cash remittances are up 4 5 for the first 5 months of the year totaling 11 346 billion

OFW cash remittances at 15-month low in April

Jun 15, 2017 - 6:20 PM

This is the lowest level cash remittances have totaled since registering 1 997 billion in January 2016

OFW cash remittances up 10.7% in March

May 15, 2017 - 11:20 PM

Total cash remittance flows for the 1st quarter of 2017 reach 6 953 billion up 7 7

OFW cash remittances hit $2.169B in February

Apr 17, 2017 - 7:00 PM

Remittance flows for the first two months of the year stand at 4 338 billion up by 5 9 compared to the same period last year

#ThewRap: Things you need to know, March 23, 2017

Mar 23, 2017 - 11:08 AM

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OFW cash remittances hit $2.169B to start off 2017

Mar 15, 2017 - 8:40 PM

The amount is up 8 6 year on year but down from the Christmas driven 2 559 billion seen in December 2016

OFW remittances beat expectations in 2016 to hit $29.7B

Feb 15, 2017 - 9:10 PM

Data from the Bangko Sentral ng Pilipinas show that remittances from the Middle East were the biggest gainer increasing by 12 7

Due to Trump? Filipinos in U.S. sending more money home

Jan 17, 2017 - 7:04 PM

Anticipated protectionist policies in the US the peso depreciation and other factors cause the spike in remittances to the Philippines

OF REMITTANCES. Although the impact could be minimal, economists say the spike in remittances possibly responds to Trump's protectionist campaign promises

#ThewRap: Things you need to know, January 17, 2017

Jan 17, 2017 - 12:01 PM

Hello Here s a round up of news you need to know this Tuesday

Remittance growth in November fastest in 8 years

Jan 16, 2017 - 7:58 PM

Bulk of the cash remittances came from the US Saudia Arabia UAE Singapore the UK among others

FASTEST PACE. Remittances from OFs spike by 18.5% to $2.22 billion in November, the fastest growth since July 2008 and a rebound from the 2.8% decline posted in October 2016. Rappler graphics

Philippine peso ends week-long losing streak

Nov 26, 2016 - 9:00 AM

The peso closes at P49 84 to 1 a day after it briefly breached the P50 to a dollar level

5 ways a Trump presidency could affect Filipinos

Nov 12, 2016 - 12:45 PM

Donald Trump’s presidency sets the stage for future and potentially lasting economic hardships for Filipinos across the globe

Economists expect growth in OFW remittances to slow down

Oct 18, 2016 - 8:00 PM

For the BSP s Diwa Guinigundo it is very difficult to determine the cause of the higher than expected remittance level in August since there are no concrete data

FASTEST PACE. Economists expect the growth in cash remittances to ease in the coming months. Rappler graphic

OFW remittances see highest growth in over two years

Oct 17, 2016 - 9:35 PM

The growth in August remittances was due to the school year shift which forced the migration of money transfers says an associate economist from BPI

HIGHEST. This is the highest growth since March 2014’s 16.9%, and a rebound from a 5.4% decline in July 2016. Graphic by Emil Mercado

OFW remittances down 5.4% in July

Sep 15, 2016 - 8:05 PM

Despite the July drop personal remittances from overseas Filipino workers are up 2 9 for 2016 so far

'Emotions preventing OFWs from financial success'

May 29, 2016 - 8:15 PM

A financial expert says many overseas Filipino workers send most of their earnings to their families – and fail to save for themselves – because they feel emotions such as guilt and shame

BETTER BUDGETING. Around 60 overseas Filipino workers in Hong Kong participate in a financial literacy training by SEDPI and the Ateneo School of Government. Photo by David Lozada/ Rappler

OFW remittances rise to $2.2B in January 2016

Mar 15, 2016 - 9:08 PM

Despite concerns in the Middle East remittances remain resilient on the back of sustained demand says the Bangko Sentral ng Pilipinas

OFW remittances in December hit record high at $2.7B

Feb 20, 2016 - 10:30 AM

Although potential layoffs threaten the Saudi labor market OFW remittances last December surge by 4 9

RECORD HIGH. The continued deployment of skilled OFWs remains a key factor to the growth in remittance inflows, BSP says

PH peso could hit P49 vs dollar – Standard Chartered

Jan 28, 2016 - 6:55 PM

Remittances from Filipinos working abroad are expected to slow down

BSP lowers 2015 remittance growth target

Dec 21, 2015 - 11:51 AM

The growth of cash sent home by Filipinos to their loved ones in the Philippines is down to 4 slightly lower than the earlier projection of 5

REVISED PROJECTION. Cash remittances grew only by 3.7% to $20.64 billion from January to October this year compared to $19.91 billion in the same period in 2014.

PH growth seen to top most Asian countries in 2015

Sep 26, 2015 - 9:42 AM

While the Philippines is unlikely to hit its growth target this year increased government spending especially as the May 2016 elections draw near would help it surpass most Asian countries say FMIC and UA P

ELECTION SPENDING. The Philippine economy will pick up steam mainly due to early spending for the 2016 polls. Photo by Michael Buena/Rappler

Second half will be better – economists

Aug 27, 2015 - 8:25 PM

The Philippine economy will pick up steam due to the expected surge in OFW remittances more infra projects and early spending for the 2016 polls

SUNNIER OUTLOOK. Higher infrastructure spending, election multiplier, and robust OFW remittances will be the main drivers of Philippine economy in the second half of the year, economists say

How the millennial consumer is reshaping the PH economy

Aug 26, 2015 - 5:30 PM

Maybank says the Philippines young population and declining fertility rate will lead to an increase in the number of working adults who will drive domestic demand and spur economic growth

THE LATTE GENERATION. The ubiquitous coffee place is the start of the Millennial workforce's expanding consumption trends, which in turn is reshaping the Philippine economy. Shutterstock photo

PH economy seen to recover in Q2 2015

Aug 01, 2015 - 9:18 AM

Government spending and ease in inflation should drive economic growth in the second quarter with consumer and infrastructure spending picking up First Metro Investment Corporation says

RECOVERED. The early second quarter signs point to a definite recovery from the measly 5.2% economic growth in the first three months of 2015, FMIC says. Shutterstock Photo

BPO revenues to overtake OFW remittances in 2017 – IT expert

Jun 27, 2015 - 9:00 AM

Income from outsourcing industry was at 18 9 billion in 2014 and is expected to grow by 15 to 18 every year says Jose Mari Mercado president of the Information Technology Business Process Association of the Philippines

GROWTH. IT expert Jose Mari Mercado says during the Talent Development Expo on June 26, 2015, in Negros Occidental, that the information technology industry is growing by 15% to 18% a year. Photo by Marchel P. Espina/Rappler

Balikbayan for good? Some OFWs now going beyond remittances

Feb 26, 2015 - 6:02 PM

Whether it s for professional growth familial ties or personal relations more and more Filipinos are now buying a one way ticket back to the Philippines says the Commission on Filipinos Overseas

OFW remittances: Where the money comes from

May 01, 2014 - 8:00 PM

Check out the 10 countries from where Filipino workers remit the highest amount of dollars every year

Remittance growth eases in January

Mar 17, 2014 - 4:58 PM

Money sent home by Filipinos overseas continue to grow albeit at a slower pace after the holidays

STEADY. Remittances from overseas Filipino workers continue to grow, albeit slower in January. Photo by AFP

Remittance growth slows in June

Aug 15, 2013 - 2:25 PM

Filipinos working and living overseas sent home 2 1 billion in June up 5 7 from 1 9 billion in the same month a year ago

STAYING STRONG. Personal remittances from overseas Filipino workers hit $2 billion for the second straight month in June as more Filipinos get jobs overseas. Photo by AFP

Remittances grow 7.6% to $3.7-B in Jan-Feb

Apr 15, 2013 - 6:01 PM

Money sent home by Filipinos abroad continue to grow on the back of high job placements

STRONG START. Personal remittances from overseas Filipino workers (OFWs) rise over 7% in January-February 2013. Photo by AFP

Philippine peso ends 2012 at P41.05, up 6.5%

Dec 29, 2012 - 12:19 AM

This made the currency 6 53 stronger than the P43 919 it started trading at on January 2 This also brought the average exchange rate to around P42 228 for the entire year and posted the the biggest annual gain since a 19 appreciation in 2007

STRONGER PESO. The local currency has been appreciating against the dollar. Graph shows average monthly exchange rate from Bangko Sentral ng Pilipinas and PDEX.

Where to buy property: Follow LRT tracks

Nov 29, 2012 - 7:00 PM

It s sensible to invest in property where infrastructure projects are being built says the COO of property consultancy firm Jones Lang LaSalle

Jones Langs Lasalle's COO, Lindsay Orr spoke about the growth of the Philippines Real Estate