$14.7-B remittance in 07

January 28, 2008  --  Got something to say?
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Banko Central ng PilipinasThe central bank expects remittances in 2007 to amount to $14.7 billion, $14 billion of which are those that pass through banking channels.

Remittances coursed through banks by Filipinos working abroad rose to $13.1 billion in the first 11 months of 2007, up 14.1 percent year-on-year, the Bangko Sentral ng Pilipinas said. It said in a statement that sustained remittance flows reflected the rise in deployment of workers overseas.

Remittances in November hit $1.2 billion. Citing data from the Philippine Overseas Employment Administration, the central bank said total deployment in November rose 7.7 percent from a year ago to 81,530. Land-based jobs for Filipinos grew 10.1 percent in November while sea-based ones increased 3.2 percent.

The bulk of deployed land-based Filipino workers comprised mostly of higher-paid professional and skilled workers such as medical and healthcare workers staff, engineers, office and restaurants/food service staff, and production-related personnel,” the central bank said. Bulk of the remittance flows came from the US, UK, Italy, United Arab Emirates, Saudi Arabia, Canada, Singapore, Japan and Hong Kong.

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Posted by News Team | Filed Under Philippine News 

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