Global Remittances Hit Record $728.6 Billion in 2025

The International Fund for Agricultural Development reported that migrants sent a record $728.6 billion in remittances to low and middle-income countries in 2025. This figure represents a 94% increase since 2016, significantly outpacing the 28% growth in the number of migrants and indicating that individuals are sending larger average sums. These private flows now exceed both global official development assistance and foreign direct investment in these regions.

Asia and the Pacific remain the largest recipient hub, receiving 53% of aggregate flows. In the Philippines, the Bangko Sentral ng Pilipinas reported that personal remittances hit a seven-month high in July, rising 2% to $3.6 billion. The United States remains the largest source of these funds for the Philippines, accounting for 39.7% of the $22.73 billion received in the first seven months of the year.

While these funds support immediate household needs and rural agrifood systems, IFAD officials emphasize that they cannot replace public investment or climate finance. The agency is calling on governments and regulators to lower transaction fees and expand digital access to better support the 1.1 billion relatives who rely on these transfers.