Personal remittances register 10.8% growth

PERSONAL remittances from overseas Filipinos (OFs) grew by 10.8 percent year-on-year in January 2018 to reach $2.7 billion, Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. announced yesterday.

A statement posted on the BSP website said personal remittances from land-based workers with work contracts of one year or more aggregated $2.1 billion, higher by 8.4 percent than the level recorded in January 2017. Meanwhile, those from sea-based and land-based workers with work contracts of less than one year rose by 15.3 percent to $0.5 billion.

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