Overseas Filipino workers (OFWs) in the United Arab Emirates (UAE) were among the top sources of remittances to the Philippines in June 2021, the Bangko Central ng Pilipinas (BSP) reported.
According to the BSP, the United States registered the highest share of remittances at 40.1 percent, followed by Singapore, Saudi Arabia, United Kingdom, Japan, United Arab Emirates, Canada, South Korea, Qatar and Taiwan.
The BSP said personal remittances of OFWs increased by 7.3 percent at $2.936 billion in June this year from $2.737 billion in June 2020.
“The rise in total personal remittances in June was due to the remittances sent by land-based workers with work contracts of one year or more, which grew by 7.1 percent to $2.319 billion from the $2.164 billion in June 2020,” the BSP said in a statement.
Aside from this, remittances from sea-and land-based workers with work contracts of less than one year also increased, the BSP noted.
Cash remittances likewise rose by 7 percent to $2.638 billion in June 2021 compared to the $2.465 billion recorded in the same month in 2020.
“Cash remittances expanded, following the increase in receipts from land-based workers by 7.1 percent (to $2.136 billion from $1.994 billion) and sea-based workers by 6.5 percent (to $502 million from $472 million),” the BSP said.
