Cash remittances sent home by Overseas Filipinos (OF) reached $32.539 billion in 2022, up by 3.6 percent from 2021 of $31.418 billion.
Cash remittances sent home by Overseas Filipinos reached $32.539 billion in 2022, up by 3.6 percent from 2021 of $31.418 billion.
“The full-year 2022 level accounted for 8.9 percent and 8.4 percent of the country’s Gross Domestic Product and Gross National Income , respectively,” it noted. For the month of December 2022 alone, cash remittances increased by 5.8 percent to $3.159 billion versus same period in 2021 of $2.987 billion. Personal remittances, meantime, went up by 3.7 percent to $3.487 billion from $3.298 billion.
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