Money sent home by Filipinos abroad reached $5.6 billion (Dh499 billion) during the first quarter of 2013 even as remittances showed less robust growth compared to previous years.
The main sources of remittances during the January-March 2013 period were the US, (42.6 per cent of total cash remittances), Canada (8.2 per cent), Saudi Arabia (7.9 per cent), the United Kingdom (5.7 per cent), the United Arab Emirates (4.5 per cent), Singapore (4.2 per cent), and Japan (3.7 per cent).
Remittances from Filipinos abroad mark an important contribution to the Philippine economy and had enabled the country for years to settle foreign debts. Full story
