OFW Remittances Exceed $3B in August, Hit Fastest Growth in 3 Months
- OFW remittances grew 2.8% year-on-year in August to $3.1B
- Growth was fastest in 3 months, driven by land and sea-based workers
- 8-month remittances up 2.9% to $24.01B vs 2021
- US remained top source of remittances, followed by Singapore and Saudi Arabia
- BSP expects full-year remittances to hit $32.2B, up 3% from 2021