MANILA – Filipinos working abroad sent home a record $14.4 billion in calendar 2007 a 13.2 percent increase over the previous year, the Bangko Sentral ng Pilipinas said yesterday.

The figure slightly exceeded the government forecast of $14.3 billion.

December inflows reached a record $1.4 billion.

The remittances accounted for about 10 percent of the country's nominal 2007 gross domestic product, a BSP statement said.

Continued demand abroad for Filipino workers and enhanced remittance services provided by banks and non-bank remittance agents accounted for the increase, it added.

It cited labor department data that showed 1.073 million Filipinos went to work abroad last year, up 1.0 percent from 2006.

Professionals and skilled workers accounted for the bulk of deployed new hires, while permit problems slowed the employment of Filipino merchant sailors.

The bank said employment prospects for overseas workers in the near term "remain favorable" despite a looming US slowdown "following indications of continued demand from (other) labor-importing countries such as Canada, Australia, Middle East (states), South Korea, and Taiwan.*AFP

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