Money sent home by overseas Filipinos reached an all-time high in 2025 — and for the millions of Filipinos living and working in Australia and New Zealand, that record is in part a reflection of their own contributions.

Here is what the data shows, what it means for families in the Philippines, and what to keep in mind when sending money home.

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The numbers: a record year for OFW remittances

The Bangko Sentral ng Pilipinas (BSP) — the Philippine central bank — confirmed that cash remittances from overseas Filipinos reached a record USD 35.63 billion in 2025. That is a 3.3% increase from USD 34.49 billion in 2024, and above the BSP’s own forecast of 3% growth for the year.

A few figures that put the scale in context:

• Remittances represent 7.3% of the Philippines’ GDP in 2025
• Remittances represent 6.4% of gross national income
• December 2025 alone saw a record monthly high of USD 3.52 billion — the highest single month ever recorded — up 4.2% from December 2024
• Personal remittances (which include informal transfers and in-kind goods) reached an even higher USD 39.62 billion for the full year

Source: Bangko Sentral ng Pilipinas (BSP), February 2026

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Where the money came from

The United States remained the single largest source of remittances to the Philippines in 2025, accounting for 39.7% of total cash flows. The next largest sources were Singapore (7.3%), Saudi Arabia (6.6%), Japan (5%), and the United Kingdom and the United Arab Emirates (4.6% each).

Australia and New Zealand are not broken out separately in the BSP’s top-source reporting — but the Philippines Statistics Authority data shows Australia is consistently among the top 10 sending countries for OFW cash remittances. With Australia’s Filipino-born population now exceeding 300,000, and New Zealand’s community growing steadily, the AU and NZ corridors are meaningful contributors to the annual total.

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Why 2025 was a record year

Several factors drove the record result:

A weak peso: The Philippine peso weakened significantly against the US dollar in late 2025, breaching the previous record high of PHP 59.00 to the dollar in October 2025. A weaker peso means every dollar sent home converts to more pesos for the recipient — which both encourages more frequent transfers and boosts the reported USD value of transfers converted from other currencies.

Seasonal holiday sending: December is consistently the highest month for OFW remittances as Filipinos abroad send pamasko (Christmas gifts) and cover holiday expenses for family at home. December 2025’s USD 3.52 billion was up 21% from November’s USD 2.91 billion — a reflection of the Pasko season.

Consistent year-on-year growth: OFW cash remittances have grown every year since 2020. The 2025 figure extends a decade-long record-setting streak. BSP data shows cash remittances have risen from USD 25.61 billion in 2015 to USD 35.63 billion in 2025 — a 39% increase over ten years.

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What this means for families in the Philippines

Remittances are not just a financial statistic — they represent the everyday decisions of millions of families. They pay for school fees, medical treatment, home construction, and groceries. For many households in the Philippines, money sent from overseas is the primary or sole source of income.

At 7.3% of GDP, the Philippines is one of the most remittance-dependent economies in the world. When OFW remittances grow, household spending in the Philippines typically grows with it — supporting local businesses, construction, and consumption.

For families with relatives in Australia or New Zealand specifically, the strong AUD and NZD versus the peso in 2025 has meant that transfers have been going further than in recent years — particularly for those who converted at favourable rates.

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What to keep in mind when sending money home

If you are one of the many Filipinos in Australia or New Zealand sending money home regularly, here are a few practical points to be aware of:

Exchange rates matter as much as fees. The BSP data shows that a weak peso environment boosts the purchasing power of every dollar sent. But that also means exchange rate margins — the difference between the rate you get and the mid-market rate — have a bigger real-world impact than they might seem. Always compare the total Philippine pesos your recipient will receive, not just the transfer fee.

Mobile wallets are fast and free. GCash transfers from Australia with OrbitRemit are fee-free. Funds typically arrive within minutes. With GCash now embedded in everyday life for millions of Filipinos — from sari-sari store payments to Palengke digital payments — sending to GCash means your family can use the money immediately.

Regulated channels matter. The BSP’s remittance data only covers transfers through licensed, registered providers. Sending through informal or unregistered channels means your transfer is not captured in the official data — and more importantly, it may not be protected if something goes wrong. OrbitRemit is regulated by ASIC in Australia (AFSL: 470646) and supervised by the DIA in New Zealand (FSP7721).

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FAQ’s (Frequently asked questions)

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Send money to the Philippines with OrbitRemit

OrbitRemit has been helping Australians and New Zealanders send money to the Philippines since 2008. GCash transfers from Australia are fee-free. Bank deposit, cash pickup at 5,000+ locations, and other mobile wallets (Maya, GrabPay, Coins.ph) are also supported.

• GCash transfers from Australia: fee-free
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Source: Bangko Sentral ng Pilipinas (BSP) — Overseas Filipinos’ Cash Remittances, February 2026. bsp.gov.ph

This post is for general information only. Exchange rates and transfer fees are subject to change. Always check current rates before sending.