Filipinos living overseas have sent back some $3.8 billion in July with most of the remittances coming from the Middle East.
Central bank figures show personal remittances from overseas Filipinos reaching $3.18 billion in July, resulting in a cumulative total of $19.78 billion since the beginning of 2021.
Saudi Arabia was the third-biggest source of these money transfers, while Qatar and the UAE were also in the top 10, which accounted for 78.6 percent of total cash remittances.
The Middle East is home to more than two million Filipino workers, who are among the biggest expatriate communities in the region.
These Filipino migrant workers form the Philippines’ massive diasporic movement – more than 10 million – and they contribute 9.66 percent to the country’s total GDP through their remittances.