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Filipino labour in GCC records $3.7bn remittances in 9M

Filipino labour in GCC records $3.7bn remittances in 9M
Filipino expats’ remittances from the GCC region fell by 13.91% YoY in 9M.

Riyadh – Mubasher: Remittances paid by Filipino labour in GCC countries dropped by 13.91% on a year-on-year (YoY) basis in the first nine months of 2020, pressured by the coronavirus pandemic.

Filipino expats’ remittances amounted to $3.73 billion in the nine-month period ended in September, compared with $4.34 billion in the prior-year period, according to data collected by Mubasher based on figures from the Central Bank of the Philippines.

At the global scale, Filipino transfers from the Gulf region represented 17.04% of the total $21.89 billion received during the January-September period.

Among Asia, Filipino remittances from GCC countries represented 76.29% and stood at $4.89 billion.