Remittances received as share of GDP Philippines 2014-2023

The personal remittances received as share of the gross domestic product in the Philippines decreased to 8.94 percent compared to the previous year. In 2023, the personal remittances received thereby reached their lowest value in recent years.
Personal remittances refer to personal transfers – whether in cash or in kind – sent from a non-resident person to a resident. The indicator also includes the compensation of employees who do not reside in the country of employment. These employees are usually border, seasonal, short-term workers, or residents who are employed by entities registered abroad.

Find more statistics on other topics about the Philippines with key insights such as charges for the use of intellectual property, annual growth of gross capital formation, and personal remittances received.