OFW remittances rose 2.2% in June

MANILA  -Personal remittances from overseas Filipino workers increased by 2.2 percent to reach $3.13 billion in June from $3.06 billion in the same month last year, according to the Bangko Sentral ng Pilipinas (BSP).

The BSP observed increases in inbound money transfers from both land-based and sea-based OFWs.

The June result brought the total inflows for the first semester of this year to $17.59 billion, an increase of 3 percent from $17.09 billion in January-June 2022.

The United States had the highest share of Philippine-bound remittances, followed by Singapore, Saudi Arabia, and Japan.