Remittances from Filipinos abroad grew to a record-high in December last year on the back of increase in demand for foreign workers overseas due to reopening of economies, data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed.
Remittances from Filipinos abroad grew to a record-high in December last year, data released by the Bangko Sentral ng Pilipinas on Wednesday showed.
Overseas Filipinos’ personal remittances — the sum of transfers sent in cash or in-kind via informal channels — in the last month of 2022 stood at $3.49 billion, up 5.7% from $3.30 billion recorded in December 2021. The full-year 2022 personal remittances also reached an all-time high of $36.14 billion, according to the central bank.“The robust inward remittances reflected the increasing demand for foreign workers amid the reopening of economies,” the BSP said.
Meanwhile, cash remittances — money transfers coursed through banks — totaled $3.16 billion in December, up 5.8% from $2.99 billion recorded in the same period in 2021.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Remittances from overseas Filipinos up 5.7% in December 2022Personal remittances from overseas Filipinos reached $3.49 billion in December 2022, rising by 5.7 percent from the $3.30 billion recorded in the same month in 2021. Data from the Bangko Sentral ng
Read more »
Clark Development Corp records P3.56-B revenue in 2022The CDC also records a 68% hike in net income to P2.19 billion in 2022 from P1.3 billion in 2021.
Read more »
Filipinos dominate 2022 Searca photo contest | BusinessMirrorFilipinos won six of the seven prizes in the latest edition of the annual photo contest of the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (Searca). Themed “Emerging Agricultural Innovations for the Next Generation,” the 2022 edition of the competition searched for images that depict technologies…
Read more »
Modernization boosts Customs collection in 2022Modernization efforts at the Bureau of Customs have boosted the agency’s revenue collection last year. Customs Port of Limay District
Read more »
Taylor Swift is the highest-paid female entertainer in 2022—ForbesThis person is raking in dollars. Not a man, but a baller. She's TaylorSwift. | via philstarlife
Read more »
Cemex Holdings incurs P1 billion net loss in 2022Listed cement producer Cemex Holdings Philippines Inc. widened its consolidated net loss in the last quarter of the previous year to bring the full-year 2022 net loss to P1 billion, dragged by lower operating earnings and foreign exchange losses.
Read more »