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.