Overseas Filipinos in Japan Rank Fourth in Remittance Contributions to Philippines in 2023

TOKYO/MANILA – Overseas Filipinos (OFs) in Japan emerged as primary contributors to cash remittances sent to the Philippines last year, according to a report released by the Bangko Sentral ng Pilipinas (BSP).

Total cash remittances sent by Filipinos abroad through banks reached US$33.5 billion from January to December 2023, reflecting a 3.1% increase compared to the US$32.5 billion recorded in 2022.

According to the BSP, OFs in Japan held the fourth-highest share of overall remittances during the period, following Filipinos in the U.S.A., Singapore, and Saudi Arabia. - Florenda Corpuz