OFW Remittances August 2026: $3.03B as Growth Slows
Cash remittances from overseas Filipinos rose 1.9 percent to $3.03 billion in August. Here are the key numbers and what they mean for families in Cebu and Davao.
In this article
OFW remittances reached $3.03 billion in August 2026, up 1.9 percent from $2.98 billion a year earlier, according to data the Bangko Sentral ng Pilipinas (BSP) released on Thursday, 15 October. SunStar, GMA News and Philstar all reported the figures, which matter to the many families in Cebu and Davao that depend on money sent from abroad.
The numbers at a glance
| Measure | Amount | Change |
|---|---|---|
| Cash remittances, August 2026 | $3.03 billion | Up 1.9% |
| Cash remittances, January to August | $23.42 billion | Up 2.2% |
| Personal remittances, August | $3.37 billion | Up 2% |
| Personal remittances, January to August | $26.10 billion | Up 2.3% |
Personal remittances are a wider measure that also counts in-kind and other transfers. GMA reported the unrounded August cash figure as $3.035 billion.
Where the money comes from
The United States remained the biggest source, accounting for 39.8 percent of cash inflows from January to August, followed by Singapore at 7.1 percent and Saudi Arabia at 6.3 percent, as reported by Philstar and others. The BSP cautioned that country-of-origin data have limits because many remitting banks are in the US, so money recorded as coming from there was not necessarily earned there.
What economists say
SunStar quoted the BSP as saying the inflows continued to underpin household spending and domestic economic activity. Ruben Carlo Asuncion, chief economist at Union Bank of the Philippines, said inflows remain resilient but are growing more moderately because of softer deployment and global uncertainties.
He added that holiday transfers usually rise in the fourth quarter, and that the BSP's 2.7 percent growth target for 2026 is achievable if current trends hold through year-end.
Why it matters in Cebu and Davao
Remittances help pay for food, rent, tuition and utilities. With national inflation at 7.2 percent in September, as we covered in our report on the peso's record low, those pesos stretch less far even as a weaker peso gives dollar senders a better exchange rate.
To compare costs where you live, see our cost of living guide for Cebu and Davao. For payment options, read the GCash vs Maya guide, and use the currency converter for a rough idea of exchange rates.
What to watch next
The next BSP release will show September figures, and Asuncion expects the usual holiday pickup in the final quarter. Follow more local updates on our news page and the BSP's official statistics at bsp.gov.ph.
Sources
- SunStar: OFW remittances hit $3B in August, BSP says
- GMA News: Cash remittances rose to $3.035B in August 2026
- Philstar: Remittances rise 2% to $3.37 billion in August
Frequently Asked Questions
How much did OFWs send home in August 2026?
Cash remittances totalled $3.03 billion, up 1.9 percent from August 2025, according to the BSP.
What is the year-to-date total?
From January to August, cash remittances reached $23.42 billion, up 2.2 percent, and personal remittances reached $26.10 billion, up 2.3 percent.
Which countries send the most?
The United States led with 39.8 percent of cash inflows, followed by Singapore (7.1 percent) and Saudi Arabia (6.3 percent), with the BSP noting limits in country-of-origin data.
