- Preliminary BSP data released Monday showed that June cash remittances rose 1.7 percent from $2.99 billion recorded in the same month last year. For the first six months of 2026, cash remittances totaled $17.15 billion, up 2.4 percent from $16.75 billion during the same period in 2025.
- The United States remained the largest source of remittance inflows, followed by Singapore and Saudi Arabia. Personal remittances, which include money sent through banks and informal channels as well as remittances in kind, increased 1.8 percent year-on-year to $3.39 billion in June from $3.33 billion.
- For January to June, personal remittances rose 2.4 percent to $19.12 billion.
Remittances from overseas Filipinos, including Kuwait, reached $3.04 billion in June, the highest monthly level recorded in the first half of 2026, providing continued support to household spending and domestic demand, the Bangko Sentral ng Pilipinas (BSP) said.
The remittances from Kuwait accounted for $286.1 million for January-June. The BSP’s table identifies Kuwait’s 2026 figures as $48.950m in January, $44.561m in February, $46.477m in March, $46.220m in April, $42.802m in May and $57.094m in June.
Preliminary BSP data released Monday showed that June cash remittances rose 1.7 percent from $2.99 billion recorded in the same month last year. For the first six months of 2026, cash remittances totaled $17.15 billion, up 2.4 percent from $16.75 billion during the same period in 2025.
The United States remained the largest source of remittance inflows, followed by Singapore and Saudi Arabia. Personal remittances, which include money sent through banks and informal channels as well as remittances in kind, increased 1.8 percent year-on-year to $3.39 billion in June from $3.33 billion.
For January to June, personal remittances rose 2.4 percent to $19.12 billion. Robert Dan Roces, group economist at SM Investments, said the steady increase in remittances was supportive from a business perspective because the funds go directly into household spending.
He said the inflows provide overseas Filipino workers’ families with additional income for food, retail, housing and other essential expenses. Roces added that the continued flow of remittances should help sustain domestic demand, although inflation could continue to affect household purchasing power.
