Remittances received as share of GDP Philippines 2014-2023

The personal remittances received as share of the gross domestic product in the Philippines decreased by 0.5 percentage points (-5.31 percent) in 2023 in comparison to the previous year. This marks the lowest personal remittances received during the observed period.
Personal remittances refer to personal transfers – whether in cash or in kind – sent from a non-resident person to a resident. The indicator also includes the compensation of employees who do not reside in the country of employment. These employees are usually border, seasonal, short-term workers, or residents who are employed by entities registered abroad.

Find more statistics on other topics about the Philippines with key insights such as charges for the use of intellectual property, annual growth of gross capital formation, and personal remittances received.