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Did You Know You Have Billions, Filipino Seafarers?


Aside from overseas Filipino workers or OFWs, Filipino seafarers also contributes largely to the Philippines’ economy.

According to a report by the Bangko Sentral ng Pilipinas (BSP), Filipino seafarers have sent more than $5 billion remittances from January to November last year.

Most Filipino seafarers in foreign ships are wise enough to watch the exchange rate before sending money to their families, making sure that its peso value would be equal or same to what they’ll remit.

Countries where Filipino seafarers and OFWs major remittances came from includes United States, Saudi Arabia, United Arab Emirates, United Kingdom, Singapore, Japan, Canada and Hong Kong.

Filipino seafarers, like OFWs will surely continue to send money for their families in the Philippines, as this is the main reason why they are working abroad.


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