According to BSP Deputy Gov. Diwa Gunigundo, the widespread political uprising in the Middle East region might have a negative impact on OFW remittances. She said that BSP is monitoring on the situation on the OFW remittances considering the bulk of remittances came from Middle East.
Last year the total OFW remittances reached to $18.76billion and 16 percent of the total OFW remittances were from the contributions of Filipino workers in the Middle East area.
Here is the breakdown of Middle East OFW remittances:
1. Saudi Arabia - $1.644billion
2. United Arab Emirates - $776.3million
3. Qatar - $248.8million
4. Bahrain - $167.28million
5. Kuwait - $106.5million
6. Israel - $67.3million
7. Oman - $66.76million
European Countries - $3.18billion
American countries - $9.98billion
Asian countries - $2.36billion