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MANILA - FILIPINOS working abroad sent home a record 14.4 billion dollars (S$20.35 billion) in calendar 2007 a 13.2 per cent increase over the previous year, the Philippine central bank said on Friday.
The figure slightly exceeded the government forecast of 14.3 billion dollars.
December inflows reached a record 1.4 billion dollars.
The remittances accounted for about 10 per cent of the country's nominal 2007 gross domestic product, a central bank 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 labour department data that showed 1.073 million Filipinos went to work abroad last year, up 1.0 per cent 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 favourable' despite a looming US slowdown 'following indications of continued demand from (other) labour-importing countries such as Canada, Australia, Middle East (states), South Korea, and Taiwan.' -- AFP
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