OFWs in the US Still Tops Remittance; Canada Overtakes Saudi Arabia
Figures from the country’s Central Bank showed that overseas Filipino workers from the United States are still the top remitters in the year 2009. That has been the case for many years. But OFW’s from Canada have remitted more dollars to their families in the Philippines last year than their counterparts in Saudi Arabia.
A total of US$17.348 Billion were remitted by OFW’s all over the world; those from the U.S. remitted US$7.323 Billion.
Aside from Canada and Saudi Arabia changing places, there have been changes in the bottom rung of the top countries for OFW remittances.
In 2008, the top ten countries were U.S., 2. Saudi Arabia 3. Canada 4. U.K., 5. Italy 6. U.A.E. 7. Japan, 8. Singapore 9. Hong Kong and 10.Germany.
In 2009, top ten were U.S. 2. Canada 3. Saudi Arabia 4. U.K. 5. Japan 6. Singapore 7. U.A.E. 8. Italy 9. Germany, 10.Norway.
The figures of the CB are based on reports from banks and other financial institutions.