Bits and Snippets of the Philippines

Basic Reading of Global Filipinos

OFW and Remittances

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The National Statistics Office (NSO) revealed that the number of overseas Filipino workers (OFWs) rose 14.6% to 2 million last year from 1.7 million in 2007; 94% of these were overseas contract workers (OCW).  Of the OCWs, 32% of them were laborers or unskilled workers. Half of the OFWs originated from Metro Manila and its surrounding provinces. 1 out of 5 OFWs work in Saudi Arabia.

Total remittance sent by OFWs rose 30% to P142 billion from P109 billion. 76% were done through banks and 12% through door-to-door services. OFWs working in Asia sent the biggest cash remittance of P70 million.

Click here to read the Business World Online article.

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Written by Raffy Pekson II

July 4, 2009 at 12:05 pm

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