The Bangko Sentral ng Pilipinas (BSP) released preliminary data on the country's cash remittances from overseas Filipino workers (OFWs) in May.
Cash remittances from OFWs rose by 2% year on year to $2.713 billion in May, marking the lowest amount of cash remittances since May 2025.
The 2% annual growth was the same as in April, which was the slowest in nearly four years or since the 1.8% in May 2022.
The BSP reported that the latest monthly tally was 0.18% lower than the $2.718 billion in cash remittances logged in April.
In the five months to May, migrant Filipinos sent home a total of $14.11 billion, up 2.5% from the $13.766 billion a year ago.
The BSP expects cash remittances to climb 2.7% to $36.6 billion this year, slower than the 3.3% to $35.6 billion in 2025.
