In October, remittances from Overseas Filipino Workers (OFW) increased 7.0% over the same month last year, reaching a record high of USD 2.1 billion. The print was above the 5.3% expansion observed in September. The upward trend continues, with remittances adding USD 22.4 billion in the 12 months up to October (September: USD 22.3 billion). This represents a 6.4% expansion over the same period last year (September: +6.5% year-on-year).
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