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Remittance to Vietnam forecast to continue growing despite pandemic

The World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD) forecast that remittance to Vietnam is estimated at 18.1 billion USD in 2021.
Remittance to Vietnam forecast to continue growing despite pandemic ảnh 1Illustrative image (Photo: AFP)
Hanoi (VNA) – The World Bank and the Global KnowledgePartnership on Migration and Development (KNOMAD) forecast that remittance to Vietnam is estimated at 18.1 billion USD in 2021.

As such, the country will be the eighth largest remittance recipient in the world and the third largest in theAsia-Pacific region this year.

In 2020, Vietnamese abroad sent 17.2 billion USD back home.

According to estimates fromthe World Bank’s Migration and Development Brief released recently, remittancesto low- and middle-income countries are projected to have grown a strong 7.3percent to reach 589 billion USD in 2021. This return to growth is more robustthan earlier estimates and follows the resilience of flows in 2020 whenremittances declined by only 1.7 percent despite a severe global recession dueto COVID-19./.
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