Remittance inflows to GDP in Philippines
Philippines: Remittance inflows to GDP was 9.6% in 2020. ◆ Volatile
Remittance inflows to GDP in Philippines, 1977–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
The most recent figure for remittance inflows to gdp in Philippines is 9.6%, measured in 2020.
The figure is up 3.3% on the previous year and down 6.8% over ten years.
Over the whole period, remittance inflows to gdp in Philippines peaked at 12.8% in 2005 and was at its lowest, 1.5%, in 1977.
That places Philippines 39th out of 197 countries with data for 2020, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Remittance inflows to GDP in Philippines, year by year
| Year | % | Change |
|---|---|---|
| 1977 | 1.5% | — |
| 1978 | 1.7% | +13.8% |
| 1979 | 1.8% | +2.9% |
| 1980 | 1.7% | -4.6% |
| 1981 | 2.0% | +16.3% |
| 1982 | 2.5% | +25.8% |
| 1983 | 3.0% | +19.8% |
| 1984 | 2.0% | -32.5% |
| 1985 | 2.3% | +14.7% |
| 1986 | 2.5% | +9.9% |
| 1987 | 2.7% | +6.5% |
| 1988 | 2.9% | +8.4% |
| 1989 | 2.8% | -4.0% |
| 1990 | 2.9% | +3.3% |
| 1991 | 3.6% | +23.2% |
| 1992 | 4.2% | +17.6% |
| 1993 | 4.2% | -0.7% |
| 1994 | 4.7% | +13.1% |
| 1995 | 6.3% | +34.2% |
| 1996 | 5.2% | -18.7% |
| 1997 | 7.2% | +40.3% |
| 1998 | 6.9% | -4.7% |
| 1999 | 7.8% | +13.5% |
| 2000 | 8.3% | +5.9% |
| 2001 | 11.1% | +34.1% |
| 2002 | 11.5% | +4.0% |
| 2003 | 11.8% | +1.9% |
| 2004 | 12.1% | +2.6% |
| 2005 | 12.8% | +5.9% |
| 2006 | 12.1% | -5.0% |
| 2007 | 10.5% | -13.2% |
| 2008 | 10.4% | -1.5% |
| 2009 | 11.3% | +9.3% |
| 2010 | 10.3% | -8.8% |
| 2011 | 9.8% | -4.9% |
| 2012 | 9.4% | -4.5% |
| 2013 | 9.4% | +0.2% |
| 2014 | 9.6% | +2.5% |
| 2015 | 9.7% | +0.8% |
| 2016 | 9.8% | +0.5% |
| 2017 | 10.0% | +2.2% |
| 2018 | 9.7% | -2.4% |
| 2019 | 9.3% | -4.3% |
| 2020 | 9.6% | +3.3% |
Philippines compared with similar countries
- Philippines's 9.6% is above the median for upper middle income countries, which is 4.0%, 2.4× the median. (58 countries reporting)
- Philippines's 9.6% is above the median for East Asia & Pacific, which is 2.3%, 4.2× the median. (32 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.7% | 1.5% | 1.8% | 3 |
| 1980s | 2.4% | 1.7% | 3.0% | 10 |
| 1990s | 5.3% | 2.9% | 7.8% | 10 |
| 2000s | 11.2% | 8.3% | 12.8% | 10 |
| 2010s | 9.7% | 9.3% | 10.3% | 10 |
| 2020s | 9.6% | 9.6% | 9.6% | 1 |
Countries ranked near Philippines
More financial sector data for Philippines
- Reserve position in the IMF, US dollar, annual growth rate 7.66 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 6.23 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 2.52 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 4.55 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 7.66 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 6.23 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 2.52 % change on previous year (2025)
Frequently asked questions
- What is remittance inflows to gdp in Philippines?
- Remittance inflows to gdp in Philippines was 9.6% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Philippines?
- The highest recorded value was 12.8% in 2005.
- What is the lowest remittance inflows to gdp recorded in Philippines?
- The lowest recorded value was 1.5% in 1977.
- How does Philippines rank for remittance inflows to gdp?
- Philippines ranks 39th out of 197 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Philippines?
- Over the last ten years it is down 6.8%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.