How many OFWs are there in 2015?

Overseas Filipino Workers estimated at 2.4 million The number of Overseas Filipino Workers (OFWs) who worked abroad at anytime during the period April to September 2015 was estimated at 2.4 million.

How much is the OFW remittances in 2018?

MANILA, Philippines – Despite political uncertainties across the globe, personal remittances from overseas Filipino workers (OFWs) reached a record high of $33.5 billion in 2019, 3.9% higher than the $32.2 billion recorded in 2018.

How many OFW 2019 remittances are there?

The total remittance sent by OFWs during the period April to September 2019 was estimated at PhP 211.9 billion. These remittances included cash sent home (PhP 157.9 billion), cash brought home (PhP 46.7 billion), and remittance in kind (PhP 7.3 billion).

How much is the total remittance of OFW in 2020?

Overseas Filipino workers (OFWs) based in the United States were the leading source of remittances received in the Philippines in 2020. Remittances from the U.S. amounted to around 11.94 billion U.S. dollars during this year. This was followed by Singapore with remittances amounting to 2.15 billion U.S. dollars.

What was the total amount of remittances in 2019?

The Bangko Sentral ng Pilipinas (BSP) said on Monday, February 17, that sustained growth of personal remittances during the year was driven by land-based workers with work contracts of one year or more, who sent a total of $25.6 billion, 3.5% higher year-on-year. (READ: OFW remittances hit all-time high, but families still run out of cash – study)

What was the remittances from KSA in 2015?

Remittances from KSA picked at $2.84 billion in 2015 before gradually declining to $2.23 billion last year with the onset of the government’s Saudization program that has cost OFW jobs. In 2017, the UAE outpaced KSA for the first time with total OFW remittance of $2.54 billion as against the latter’s $2.50 billion.

Why are OFW remittances important to the economy?

OFW money boosted household income and consumption last year, accounting for 9.3% of the gross domestic product and 7.8% of the gross national income. “Remittances provide a steady stream of foreign exchange to help offset the widening trade gap and limit the current account deficit.

What was the remittances from the Philippines in 2019?

MANILA, Philippines – Despite political uncertainties across the globe, personal remittances from overseas Filipino workers (OFWs) reached a record high of $33.5 billion in 2019, 3.9% higher than the $32.2 billion recorded in 2018.