Remittances by overseas Filipinos reached $21.4 billion last year, up 6.3 percent from $20.1 billion in 2011, the Bangko Sentral ng Pilipinas (BSP) reported Friday.
The growth in money sent back to the Philippines by Filipinos who live and work overseas topped the government projection of 5 percent for 2012.
Major sources of remittances were Filipinos in the United States, which accounted for 42.6 percent, Canada at 9.2 percent, Saudi Arabia at 8.1 percent, the United Kingdom at 5 percent, Japan at 4.7 percent, UAE at 4.5 percent,and Singapore at 4.1 percent. Full story
