Rising OFW remittances

Remittances by Overseas Filipino Workers (OFWs) keeps increasing, even for last year where the global financial turmoil was really bad. Here are the figures, in $ billion:

  • 2003,   7.58
  • 2004,   8.55
  • 2005, 10.69
  • 2006, 12.76
  • 2007, 14.45
  • 2008, 16.43
  • 2009, 17.35
  • 2010, Jan-July, 10.68

At $1.6+ billion per month recently, hitting between $18.5 to $19.0 B for this year is not a far out  possibility.

— by LG

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