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NEWS UPDATES Asean Affairs    July 19, 2017  











Personal remittances recover in May

Personal remittances grew from a month and the year earlier figures in May, data released by the Bangko Sentral ng Pilipinas (BSP) on Monday showed.

The total amount of money sent home by overseas Filipinos (OFs) went up 7.1 percent to $2.588 billion in May from $2.317 billion in April and from $2.416 billion in May 2016

The remittance numbers in April were the lowest in over a year, due to a drop in money transfers from land-based workers in Saudi Arabia, Singapore, Australia and the United Kingdom.

"Personal remittances from land-based workers with work contracts of one year or more grew by 5.9 percent to compensate for the 0.6 percent decline in remittances from sea-based and land-based workers with work contracts of less than one year on the same period a year ago," the BSP said.

May's figures brought the year-to-date personal remittances to $12.613 billion, up from $11.993 billion a year earlier.

In terms of cash remittances, the BSP said OFs transferred $2.310 billion in May, up 5.5 percent from $2.083 billion in April.

"Cash remittances from land-based workers grew by 5.9 percent to $9.0 billion, while transfers from sea-based workers declined by 0.6 percent to $2.3 billion," the BSP said.

Eighty percent of the remittances were from the United States, Saudi Arabia, United Arab Emirates (UAE), Singapore, Japan, United Kingdom, Qatar, Kuwait, Canada and Germany.


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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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