Analyzing OFW remittances in 2009 | Manila Bulletin

Analyzing OFW remittances in 2009 | Manila Bulletin

For the first three quarters, remittances from Asia grew a healthy 16.7 percent. Early on in the recession, many Filipino workers were laid off and returned home from Taiwan, casualties of the electronics industry's slump. Consequently, remittances from Taiwan dropped by 46.1 percent for January to September 2009.