Overseas remittances rise 14.51 per cent in first four months
Manila - Remittances from overseas Filipinos rose 14.51 per cent in the first four months of the year due to the continuing high demand of Filipino workers abroad, the government said Friday.
The central bank said remittances from January to April reached 5.36 billion dollars, compared to 4.68 billion dollars in the same four-month period last year.
In April alone, remittances rose 18.35 per cent to 1.41 billion dollars from 1.19 billion dollars in the same month last year.
"The continued rise in remittances for the period January-April was partly fuelled by the double-digit growth in the number of deployed Filipino workers," the central bank said in a statement.
Data from the Philippine Overseas Employment Administration showed that the number of Filipinos who found work abroad in the first four months of the year grew 14 per cent to 399,638 from 350,520 a year earlier.
"Prospects of (overseas) deployment remain upbeat given the country's efficient deployment system and continued bilateral talks for employment opportunities with other labour-importing countries," the central bank said.
The bulk of dollar remittances came from Filipinos in the United States, Saudi Arabia, United Kingdom, Italy, United Arab Emirates, Canada, Japan, Singapore and Hong Kong.
Last year, a total of 14.44 billion dollars were remitted by more than 8 million overseas Filipinos, helping boost the local economy. (dpa)