Cash remittances coursed through banks in the Philippines rose by 2% year-on-year to USD 2.71 billion in May 2026 from USD 2.66 billion in the same month last year.
Both land-based and sea-based workers recorded higher remittance inflows, increasing by 2.1% and 1.7% year-on-year, respectively.
By origin, the US remained the largest source of remittances, accounting for 39.4% of total inflows, followed by Singapore (7.4%), Saudi Arabia (6.4%), Japan (5.1%), and the UK (4.6%).
In the first five months of the year, cash remittances increased by 2.5% to USD 14.11 billion from USD 13.77 billion in the corresponding period a year earlier.
Meanwhile, personal remittances, which include transfers through banks, informal channels, and in-kind transfers, rose by 2.1% to USD 3.03 billion in May and increased by 2.6% to USD 15.43 billion on a year-to-date basis.