Philippines: OFW remittances up 2.3%; DA backs agribusiness

Homepage > News > Finance > Philippines: OFW remittances up 2.3%; DA backs agribusiness TL;DR: Philippine OFW remittances grew about 2.3% despite the Middle East conflict, which has forced 12,000+ repatriations. The Department of Migrant Workers (DMW) seeks a PHP 11.616 billion ($182 million) budget for 2027, and the Department of Agriculture urges OFWs to invest in agribusiness. Meanwhile, remittances to Ho Chi Minh City rebounded to $2.84 billion in Q3. Key Takeaways: Philippine remittances grew about 2.2% to 2.3%, per DMW Secretary Hans Leo Cacdac. At least 12,000 OFWs have been repatriated since the February 2026 US-Iran war. The Department of Migrant Workers proposed a PHP 11.616 billion ($182 million) budget for 2027 for aid and reintegration. The Department of Agriculture hosted 127 Singapore-based OFWs to promote agribusiness investment. Ho Chi Minh City’s Q3 remittances hit $2.84 billion, its first year-on-year gain of 2026. OFW remittances grew slightly as repatriation remains due to the Middle East conflict Overseas Filipino Workers’ (OFW) remittances saw a slight growth despite the Middle East conflict, the Department of Migrant Workers (DMW) said on October 28...