Philippine Cash Remittances Up 1.9% in August

Cash remittances coursed through banks in the Philippines rose by 1.9% from a year earlier to USD 3.03 billion in August 2026, but were down from USD 3.18 billion in July. In the first eight months of the year, cash remittances increased by 2.2% to USD 23.42 billion.

Cash remittances coursed through banks in the Philippines grew by 1.9% year-on-year to USD 3.18 billion in July 2026, up from USD 3.17 billion a year earlier. This marked the highest level of monthly inflow since December last year. The US remained the largest source of remittances, accounting for 39.7% of total inflows, followed by Singapore (7.1%), Saudi Arabia (6.3%), Japan (5.0%), and the UK (4.7%). In the first seven months of the year, cash remittances rose by 2.3% to USD 20.39 billion from USD 19.93 in the corresponding period a year earlier. Meanwhile, personal remittances, which include transfers through banks, informal channels, and in-kind transfers, increased by 2.0% to USD 3.60 billion in July and grew by 2.3% to USD 22.73 billion on a year-to-date basis.

Cash remittances coursed through banks in the Philippines rose 1.7% year-on-year to USD 3.04 billion in June 2026, up from USD 2.99 billion a year earlier. This was the slowest annual growth in more than four years, but the monthly inflow reached its highest level since December last year. The US remained the largest source of remittances, followed by Singapore and Saudi Arabia. In the first half of the year, cash remittances increased by 2.4% to USD 17.15 billion from USD 16.75 billion in the corresponding period a year earlier. Meanwhile, personal remittances, which include transfers through banks, informal channels, and in-kind transfers, rose by 1.8% to USD 3.39 billion in June and increased by 2.4% to USD 19.12 billion on a year-to-date basis.