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'We've noted increased volatility in remittance flows over the past three years and this could be due to the fact that overseas Filipinos may be getting their salaries delayed from time to time,' Mapa said in a response to a query.
'Comparatively better remittances were received ahead of Eidul Azha,' said the head of Remittances Department at a state-owned bank while talking to The Express Tribune on Friday.
The "South Africa International Remittance Business and Investment Opportunities - Analysis by Transaction Value & Volume, Inbound and Outbound Transfers to and from Key States, Consumer Profile - Income, Age Group, Occupation and Purpose" report has been added to's offering.
Remittances jump to 5-month high in May !-- -- Lawrence Agcaoili (The Philippine Star) - July 16, 2019 - 12:00am MANILA, Philippines The increase in the amount of money sent home by overseas Filipinos to their loved ones in the Philippines accelerated in May, with both cash and personal remittances hitting their highest levels in five months, according to the Bangko Sentral ng Pilipinas.
In a statement, the BSP said the "steady growth in personal remittances during the first five months of 2019 drew support from the remittance inflows from land-based OF workers with work contracts of one year or more, which aggregated to $10.5 billion from $10.2 billion in the same period last year."
India retained its position as the world's top recipient of remittances with its diaspora sending a whopping USD 79 billion back home in 2018, the World Bank said in a report Monday.
Washington: Remittances to low and middle income countries reached a record high in 2018, according to the World Bank.
It said: We examined household surveys in Nigeria, Uganda, Tanzania and Pakistan, and calculate that an average of 4% of school-age children in these countries live in families which receive remittances.
The WB said remittance inflows have been around US$39mn since 1986 and this is the first time it is expected to touch US$41mn.
According to the report, remittance flows rose in all regions, most notably in Europe and Central Asia (20 per cent) and South Asia (13.5 per cent), followed by Sub-Saharan Africa (9.8 per cent), Latin America and the Caribbean (9.3 per cent), the Middle East and North Africa (9.1 per cent), and East Asia and the Pacific (6.6 per cent).
The consumption demand equation includes the remittance term.