Cash remittances from overseas Filipinos recovered in March after falling to a nine-month low in February, the Bangko Sentral ng Pilipinas (BSP) said.
BSP data showed that cash remittances coursed through banks and other formal channels reached US$2.874 billion in March 2026. This was higher than the US$2.786 billion recorded in February and the US$2.810 billion posted in March last year.
Land-based overseas Filipino workers (OFWs) accounted for the bulk of the inflows at US$2.26 billion, while sea-based workers sent home US$610 million during the month.
The March rebound lifted total cash remittances in the first quarter to US$8.68 billion, surpassing the US$8.44 billion recorded in the same period in 2025.
The United States remained the top source of remittances from January to March, accounting for 39.9 percent of the total. It was followed by Singapore with 7.6 percent, Saudi Arabia with 6.3 percent, Japan with five percent, and the United Arab Emirates with 4.7 percent.
The BSP, however, clarified that remittances coursed through money couriers are often recorded under the country where the courier’s main office is located, commonly the United States. Because of this, some transfers cannot be fully traced to their actual country of origin.
Meanwhile, personal remittances, which include cash sent through banks and informal channels as well as remittances in kind, reached US$3.20 billion in March.
For the first three months of the year, personal remittances rose by 2.8 percent to US$9.66 billion from US$9.40 billion in the January-to-March period of 2025.
The latest figures point to sustained support from overseas Filipinos, whose remittances remain a key source of household income and a major buffer for domestic consumption.