It is expected that the overseas remittances to the city in 2020 would reach US$5.5 billion, an increase of 8 percent compared with the same period in 2019.
According to the World Bank (WB), overseas remittances to Vietnam reached US$16.7 billion in 2019 nearly US$16 billion in 2018 US$13.8 billion in 2017 and US$1188 billion in 2016 respectively.
WB predicted that the amount of global remittances in 2020 will decrease by around 20 percent due to the Covid-19 pandemic, of which the East Asia and Pacific region will see a decrease by 13 percent, mainly due to the decline in cash flow from the United States which is considered to be the main source of remittances in the areas.
By Nhung Nguyen – Translated by Huyen Huong
- Overseas remittances to Vietnam in 2020 reach US$17.2 billion
- Overseas remittances to HCM City could reach US$5.5 billion this year
- Remittances to Ho Chi Minh City rise despite pandemic
- Remittances to Vietnam roughly reached $12.6 billion in 2021
- Over US 17 2 billion of remittances sent to Vietnam in 2020 World Bank
- Remittances to Vietnam exceeds 71 bln USD
- First-half remittances to HCMC surge 22.34% despite Covid-19
- Remittances to fall for first time in 11 years
- Remittances to Ho Chi Minh City reach US$3.2 billion in first half of 2021