Remittance growth slows in January 2025 to $2.84B
By: Ian Nicolas P. Cigaral - @inquirerdotnet
March 17,2025 - 11:54 AM
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MANILA, Philippines — Remittances experienced slower growth in January as the typical surge in cash transfers during the holiday season subsided.
Data from the Bangko Sentral ng Pilipinas (BSP) revealed that cash remittances coursed through banks increased by 2.7% year-on-year to $2.84 billion in January 2025.
This was the slowest growth in remittances in three months, or since October 2024’s expansion of 2.7 percent.
READ: Remittances hit new record high of $34.49B in 2024, up 3%
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