MANILA - Cash remittances from overseas Filipinos rose 2.3 percent in September, the Bangko Sentral ng Pilipinas (BSP) said Thursday.
Overseas Filipinos sent home $2.2 billion in September, bringing the total cash remittances in the first 9 months of the year to $21.3 billion.
This was was 2.5 percent higher compared to the same period in 2017, the BSP said.
Cash remittances growth for the first 9 months of the year is at its slowest pace in 17 years.
The BSP said more than 79 percent of the total cash remittances for the first 9 months came from the United States, Saudi Arabia, UAE, Singapore, Japan, United Kingdom, Qatar, Canada, Germany, and Hong Kong.
Meanwhile, personal remittances in the Jan-Sept period grew by 2.4 percent to reach $23.7 billion.
The Philippines is one of the world's largest recipients of remittances, which is a key driver of economic growth.