PH remittances posted slow growth despite June peak

MANILA, Philippines — Cash remittances reached $3.04 billion in June 2026, the highest monthly level in the first half of the year.

However, the amount was just 1.7 percent higher than a year earlier, a slower pace of clip than the 2-percent expansion recorded in May, data from the Bangko Sentral ng Pilipinas (BSP) showed.

READ: PH remittance growth stayed at 4-year low in May

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The US remained the largest source of inflows, followed by Singapore and Saudi Arabia, based on reported transactions by origin.

In the first six months of the year, cash remittances totaled $17.1 billion, up 2.4 percent from a year earlier.

READ: OFWs want more say over how remittances are spent

That, however, remained below the BSP’s downwardly revised forecast of 2.7-percent growth for full-year 2026. /pai