MANILA, Philippines — Dollars remitted by expatriate Filipinos declined slightly in the first month of 2021 as the coronavirus pandemic wore on — a marked departure from the trend of recent periods which saw strong remittance growth at the start of the year.
According to the Bangko Sentral ng Pilipinas, personal remittances from the country’s overseas citizens reached $2.895 billion in January 2021. This was 1.7 percent lower than the $2.944 billion recorded in the same period last year.
The marginal decline in personal remittances during the month was attributed to the 2.4 percent drop in remittances from land-based workers with work contracts of one year or more to $2.219…
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