June seafarer remittances highest in 6 months

June seafarer remittances highest in 6 months
Yashika F. Torib August 20, 2025 https://www.manilatimes.net/2025/08/20/business/maritime/june-seafarer-r...

CASH remittances to the Philippines continued to grow in June this year, with remittances from sea-based overseas Filipinos (OFs) increasing to 3.5 percent.

A report from the Bangko Sentral ng Pilipinas showed that remittances from land and sea based OFs rose from US$2.88 billion in June 2024 to US$2.99 billion in June 2025, marking a 3.7-percent increase.

Of this figure, US$555 million were sent home by Filipino seafarers.

The increase in cash remittances drove an increase in personal remittances as well. Personal remittances include cash sent through banks and informal channels as well as remittances in kind.

Personal remittances grew from US$3.21 billion in June 2024 to US$3.33 billion in June 2025, reflecting a 3.7-percent increase.

Cumulative personal remittances marked a 3.1-percent increase from US$18.10 billion recorded in January-June 2024 to US$18.67 billion in January-June 2025.