Cash remittances from Overseas Filipino Workers (OFWs) reaches $14.6 billion on the first six months of 2019.
This is 3.4% higher compared to the same period last year.
The month of June, however, had experienced a decline of 2.9% or almost three million dollars. Bangko Sentral ng Pilipinas saw a decline in remittances from Saudi Arabia and Oman during that period of time.
The United States of America remains to be the top source of remittances followed by Saudi Arabia, Singapore, United Arab Emirates, the UK, Japan, Hong Kong, and Germany according to the BSP.
The Philippines remains to be one of the biggest recipients of cash remittances as each remittance sent empowers Filipinos back home by giving the economy a boost.
