The remittances of overseas Filipino workers (OFWs) withstood the threat of the Delta COVID-19 surge after being able to maintain its growth last August.
The Bangko Sentral ng Pilipinas said that cash remittances coursed through banks rose 5.1% year-on-year in August to $2.61 billion. The growth was faster compared to July’s 2.5%.
Experts told PhilStar that the steady increase in the OFW remittances showed that the global economy is recovering.
A huge chunk, 40.4% of 8-month cash remittances, came from the United States. Other top remittance sending countries are Singapore, Saudi Arabia, Japan, and the United Kingdom.
Remittance from land-based workers totalled $2.03 billion while remittance from sea-based workers amounted to $577 million in August.
OFW remittances in August withstand Delta variant impact
Source: Pinoy News Udpates PH
0 comments :
Post a Comment