Crude oil price hits Filipino OFW’s in the Middle East (2/12/2016)

ABS-CBN: 750,000 OFWs may be affected secondary to ongoing low oil price.

GMA-News/iMoney: Saudi Arabia remittances accounted for 112.78 Billion Pesos (~$2 Billion USD) and ranks second most for Philippine remittances.

CNBC: Middle East Filipino remittances made up 22% of total OFW remittances in the Philippines.

Worldbank: Total Philippine remittances accounted for 10% of Philippines’ GDP. Ranked 21st worldwide.


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