UMVA has learned that remittances sent home by Filipino workers abroad saw a sluggish growth in April, rising by just 2% compared to the same period last year.
This marks the weakest annual growth in nearly four years, with cash remittances amounting to $2.718 billion in April, a modest increase from $2.664 billion in the same month last year.
The growth rate is notably slower than expected, with month-on-month figures showing a 5.4% decline from the $2.874 billion recorded in March.
April's remittance tally also represents the lowest monthly amount in about a year, similar to the $2.658 billion logged in May 2025.
Despite the slow growth, the central bank remains optimistic, stating that cash remittances have remained resilient, albeit at a slower pace, amid ongoing global economic uncertainties.
The central bank highlighted that remittances from overseas Filipinos have continued to grow, reflecting their resilience in the face of prevailing global economic conditions.
In the first four months of the year, cash remittances reached $11.398 billion, 2.6% higher than the $11.107 billion recorded in the same period last year.
The central bank projects a 3% growth in cash remittances for the year, reaching $36.7 billion, which is slower than the 3.3% growth to $35.6 billion recorded in the previous year.
