Data from the POEA (Philippine Overseas Employment Administration) shows that remittances for August 2011 grew by 11.1 percent as it reached 1.7 Billion USD. This brings the total of money sent by OFWs (Overseas Filipino Workers) to 13 Billion USD from January to August this year.
It appears that demands for Filipino Jobs Abroad continuous to be stable despite the global economic crisis and localization policies in a number of countries.
“Notwithstanding lingering global economic uncertainties, the cumulative steam of remittances from overseas Filipinos continued to be solid and resilience, supported by sustained demand for Filipino skills abroad,” the Bangko Sentral ng Pilipinas (BSP) said in a statement on Monday.
The top 10 country sources of remittances according to the data are United States, Canada, Saudi Arabia, UK, Japan, United Arab Emirates, Singapore, Italy, Germany and Norway.
