Home Infographics Philippines continued to be among top remittance recipients in 2021

Philippines continued to be among top remittance recipients in 2021

The Philippines’ migrant remittance inflows amounted to $36.69 billion in 2021, the fourth largest after India, China, and Mexico, based on latest estimates from the Global Knowledge Partnership on Migration and Development (KNOMAD). This translated to 9.3% of the Philippine gross domestic product (GDP), relatively small compared with those economies receiving smaller amounts but are more reliant on remittances as their source of income.

Philippines continued to be among top remittance recipients in 2021