Philippines: Remittances rise in April at fastest rate since November 2021
Remittances came in at USD 2.4 billion in April, reflecting a 3.9% year-on-year rise, following March’s 3.2% year-on-year increase. The year-on-year increase was the largest since November 2021.
On a cumulative 12-month basis up to April, remittances summed USD 31.7 billion, following the USD 31.5 billion registered in March. April’s 12-month moving average signaled a 4.4% rise from a year earlier (March: +5.0% year on year).