Top Sources of OFW Remittances in 2014

Our OFWs are keeping us afloat!

OFWs sent us a total of 24.3 Billion US Dollars in 2014, based on data from the BSP.

This total includes only remittances that passed through the Philippines banking system.

It’s estimated that 2.62 Billion US Dollars were sent through personal or padala networks in 2014, bringing the overall total of OFW remittances in 2014 to 26.9 Billion US Dollars.
 
 
     BILLION-DOLLAR SOURCES:  THE TOP 5
 

Country Total Remittance in US Dollars
1. United States 10.4 billion
2. Saudi Arabia 2.6 billion
3. United Arab Emirates 1.7 billion
4. United Kingdom 1.4 billion
5. Singapore 1.2 billion

 
 
     MULTI-MILLION-DOLLAR SOURCES
 

6. Japan 981.9 million
7. Hong Kong 694.1 million
8. Canada 650.9 million
9. Germany 603.6 million
10. Australia 427.1 million
11. Qatar 426.9 million
12. Norway 363.9 million
13. Greece 335.4 million
14. Kuwait 297.5 million
15. Taiwan 213.5 million
16. Malaysia 198.1 million
17. South Korea 182.9 million
18. Bahrain 171.7 million
19. Netherlands 148.3 million
20. Italy 136.5 million
21. Oman 119.3 million

 
 
     TIER-3 SOURCES
 

22. Switzerland 99.8 million
23. France 91.8 million
24. Guam 87.0 million
25. Denmark 62.3 million
26. Israel 52.4 million
27. New Zealand 51.7 million
28. Belgium 50.8 million
29. Spain 35.9 million
30. Cyprus 33.4 million
31. China 31.6 million
32. Panama 30.8 million
33. Russia 29.4 million
34. Lebanon 20.8 million
35. Brunei 17.1 million
36. Sweden 16.5 million
37. Indonesia 16.2 million
38. Austria 16.0 million
39. Thailand 14.0 million
40. Papua New Guinea 12.4 million
41. Ireland 11.6 million
42. Monaco 11.4 million
43. Virgin Islands 10.1 million

13 Comments

  1. Helen August 23, 2017
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