Home Business Philippines’s remittances up 6.5 pct in first quarter

Philippines’s remittances up 6.5 pct in first quarter

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bspHANOI, May 27 – Remittances from Filipinos working abroad hit US$6.08 billion in the first three months of this year, a year-on-year rise of 6.58 per cent, Vietnam News Agency (VNA) reported.

In March alone, remittances rose by 6.9 per cent year-on-year to US$2.08 billion, according to the Central Bank of Philippines (BSP).

The steady increase was driven by strong growth in remittance flows from both land-based and sea-based workers, the BSP said. The money was mainly sent from the US, Saudi Arabia, the United Arab

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Emirates, the UK, Singapore, Japan and Hong Kong (China).

– BERNAMA