Tuesday, September 17, 2019

Mar 17 19, 11:31 am

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OFW remittances hit $2.75B in January 2019

by | TOP STORIES

Mar. 17, 19 | 11:31 am

Personal remittances from overseas Filipino workers (OFW) reached $2.75 billion in January this year, the Bangko Sentral ng Pilipinas reported over the weekend.

In a statement, BSP said that the increase represent a 4.4 percent growth from $2.38 billion the previous month as both land-based and sea-based workers beef up remittances in the first month of the year.

Land-based OFWs with contracts of one year and up remitted $2.12 billion, up by 2.3 percent; while sea-based and land-based workers of less than a year sent a total of $580 million during the period.

OFWs based in the mainland United States sent the lion’s share with 35.5 percent of the total remittances attributed to them.

Meanwhile, those working in Saudi Arabia, Singapore, United Kingdom, United Arab Emirates, Japan, Canada, Qatar, Hong Kong and Kuwait contributed the remainder of the $2.75 billion.

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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