Major sources of overseas Filipino remittances 2023, by country

Overseas Filipino workers (OFWs) based in the United States were the leading source of remittances received by the Philippines in 2023. Remittances from the U.S. amounted to around 13.71 billion U.S. dollars. Singapore follows, with remittances amounting to around 2.36 billion U.S. dollars. 

Economic contribution of remittances 

Remittances, in case or kind, have been a fundamental source of income in the Philippines. In fact, in 2020, the county ranked second to India when it comes to the total personal remittances received in the Asia Pacific region. Overall, personal remittances contributed about nine percent to the country's GDP.

Demographics of OFWs 

Of the 2.33 million Filipino labor migrants employed worldwide in 2023, women accounted for the higher share of OFWs compared to men. In terms of age, most women OFWs were between the age of 30 and 34, while the majority of male OFWs were 45 years old and above.