OFW money through banks, informal channels reach 4-year high
2004 NSO Survey on Overseas Filipinos
MANILA – THE money that overseas contract workers sent through banks and informal channels increased during the last four years, data from an annual Survey of Overseas Filipinos (SOF) by the National Statistics Office (NSO) revealed.
Four-year data from the SOF, including the 2004 survey that was released last April 15, showed that an estimated 661,000 overseas Filipino workers (OFWs) remitted PhP38.109 billion through banks while the volume of money flowing through courier services has also been increasing.
