Filipino worker remittances see dip in Kuwait, rise across Gulf

Filipino worker remittances see dip in Kuwait, rise across Gulf

First Quarter sees 2.1% drop in remittances from Filipinos in Kuwait. PHILIPPINES, May 16: Recent data from the Central Bank of the Philippines has revealed a notable decline of approximately 2.10 percent in remittances from Filipino workers in Kuwait during the first quarter of 2024. This contrasts with a regional trend, as remittances from Filipino …

First Quarter sees 2.1% drop in remittances from Filipinos in Kuwait.

PHILIPPINES, May 16: Recent data from the Central Bank of the Philippines has revealed a notable decline of approximately 2.10 percent in remittances from Filipino workers in Kuwait during the first quarter of 2024. This contrasts with a regional trend, as remittances from Filipino workers across all Gulf countries increased by 3.63 percent over the same period, reaching $1.34 billion compared to $1.29 billion in the first quarter of 2023.

The statistical analysis further highlights that this annual growth in remittances was predominantly propelled by an uptick in five Gulf nations, with Qatar leading the surge at approximately 5.09 percent. However, Kuwait saw a 2.10 percent decrease in remittances.

Saudi Arabia remains the primary recipient of remittances, totaling $485.47 million in the first quarter of the year, while Bahrain recorded the lowest remittances at $61.52 million, as