Filipino remittances rise year-on-year to $2.79b in February 2026, slow after January spike

Dubai: Cash remittances from overseas Filipinos rose to $2.79 billion in February 2026, reflecting continued resilience in inflows that support millions of households back home.

The latest figure is higher than the amount recorded in the same month last year, although it marks a slowdown from January’s $3.02 billion, suggesting a moderation in month-on-month growth.

Despite the softer February reading, overall remittances in the first two months of the year have remained on an upward trend.

Cash remittances have reached $5.81 billion from January to February 2026, up 3.1 percent from $5.63 billion in the same period last year.

On the other hand, personal remittances, which include transfers sent through banks, informal channels, and in-kind support, have also posted solid growth.

These have reached $3.10 billion in February alone, bringing the total for the first two months of 2026 to $6.46 billion. This has represented a 3.1 percent increase compared to $6.27 billion recorded in the same period last year.

The US has continued to account for the largest share of remittances to the Philippines, followed by countries such as Singapore, Saudi Arabia, Japan, UK, UAE, Canada, Taiwan, Qatar, and Hong Kong.

For many UAE-based expatriates, remitting money home has remained a priority, supporting family needs ranging from daily expenses to education and savings, among others.

The Bangko Sentral ng Pilipinas or Philippine central bank has reiterated that remittances continue to play a key role in maintaining the country’s external stability. This comes despite the geopolitical situation, particularly in the Middle East.

Authorities have noted that there are no indications of "mass repatriation or widespread deployment bans" of overseas Filipino workers.