Xinhua
16 May 2022, 17:14 GMT+10
MANILA, May 16 (Xinhua) -- Personal remittances from overseas Filipinos reached 2.88 billion U.S. dollars in March, 3.1 percent higher than the amount recorded in the same month last year, the Philippine central bank said on Monday.
The Bangko Sentral ng Pilipinas (BSP) said the March remittances expanded the cumulative personal remittances to 8.64 billion U.S. dollars in the first quarter this year, 2.3 percent higher than the same period in 2021.
In terms of country sources, the BSP said the United States registered the highest share of overall remittances in the first quarter at 41.5 percent, followed by Singapore, Saudi Arabia, Japan and Britain.
Filipinos have worked and settled across international borders over the last decades and personal remittances remain a major source of the Southeast Asian country's foreign exchange inflows. In 2021, the Asian Development Bank said remittances to the Philippines reached 9.4 percent of gross domestic product.
Get a daily dose of Philippine Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philippine Times.
More InformationMEXICO CITY, Mexico: Three American women were found dead over the weekend at a beach resort in Belize, police said. Officials are...
BANGKOK, Thailand: Chinese authorities said they started live-fire military exercises in the Gulf of Tonkin this week, just days after...
ABOARD THE CHARLES DE GAULLE, Philippines: France's nuclear-powered aircraft carrier and its warships arrived in the Philippines over...
FRESNO, California: Fresno State suspended two of its top men's basketball players last weekend and removed a third player from the...
WARSAW, Poland: Deputy Prime Minister Krzysztof Gawkowski confirmed over the weekend that Poland has been covering the cost of Ukraine's...
Israel sustained the West's support for its slaughter in Gaza for 15 months only through an intensive campaign of lies. It invented...
CAPE TOWN, South Africa: An international summit on global poverty faced setbacks this week as key finance leaders skipped the G20...
ATLANTA, Georgia: After two years of declining same-store sales, Home Depot finally saw a turnaround in the fourth quarter, fueled...
NEW YORK, New York - U.S. stocks rallied on Friday as economic data showed the U.S. Federal Reserve has likely tamed inflation. The...
WASHINGTON, DC - The U.S. Federal Reserve seemingly has inflation under control with the latest econbomic data confirming little push...
COPENHAGEN, Denmark: A remote Arctic facility designed to preserve the world's agricultural diversity is set to receive a major new...
LONON, U.K.: British Petroleum is set to abandon its ambitious renewable energy expansion targets in favor of a stronger focus on fossil...