The Bangko Sentral ng Pilipinas (BSP) reported on Monday that remittances from overseas Filipinos totaled $8.479 billion as of the end of the first half, up 2.9 percent year-on-year.

Based on BSP numbers, remittances on a monthly basis continue to be strong, climbing to a record high of $1.498 billion in June. This was an increase of 3.3 percent over the same period last year of $1.45 billion.

BSP said sea-based overseas Filipinos remittances continue to increase by 4.5 percent to $1.648 billion during the period while land-based workers fund transfers rose by 2.5 percent to $6.831 billion. Major sources of remittances are the US, United Kingdom, Canada, Saudi Arabia, Japan, Singapore, United Arab Emirates, Italy, and Germany

According to central bank Governor Amando M. Tetangco Jr.: “The continued growth of remittance flows since January this year accompanied by emerging signs of improving global economic conditions have affirmed the positive outlook for steady remittances for 2009.”

Tetangco added that the sustained foreign demand for highly-skilled and professional Filipino workers combined with wider access of overseas Filipinos and their beneficiaries to a broad array of financial products and services offered by banks and other financial institutions have been the driving factors behind the sustained growth in remittances.

“Deployment of Filipino workers abroad is anticipated to be steady in the months ahead given the employment arrangements between the Philippines and host countries such as Qatar, Saudi Arabia, Canada, Australia and South Korea,” said the BSP.

Presently, aside from these countries, the government is working with Libya for the recruitment of some 4,000 Filipino medical workers. The Tripoli-based Philippine Overseas Labor Office is also exploring employment opportunities for non-traditional destinations such as Algeria, Chad, Malta, and Morocco. The job opportunities in these places are mostly work in hotels, oil and gas, and technical services sectors.

The BSP said the Philippine Overseas Employment Administration has reported that Taiwan has a requirement for additional production workers in Taiwan this month. This will be undertaken through a special hiring program for Taiwan in cooperation with the Manila Economic and Cultural Office.