Overseas Filipino workers around the world sent $26.92 billion (P1.20 trillion) back to the Philippines last year, up 6.2 percent from $25.35 billion (P1.13 trillion) in 2013, according to the Bangkok Sentral ng Pilipinas (BSP).
It was a record high, according to the central bank officials.
Land-based workers remitted $18.7 billion, while seafarers transferred $5.6 billion.
The Philippine Overseas Employment Administration noted 1.6 million Filipinos were deployed abroad in 2014. Job orders increased by 10.7 percent to 878,609. Around 43 percent of the job orders were in the service, production, professional and technical sectors in Saudi Arabia, Kuwait, the United Arab Emirates, Taiwan and Qatar.
The Philippines was third, after India and China, in terms of the amount of remittances received in 2014, according to World Bank data.
Remittances contributed as much as 8.5 percent to the Philippine gross domestic product (GDP) last year.
In terms of sources of remittances, here are the top 20 countries from which OFWs transfer money to the Philippines.
source: GMA News
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