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Remittances sent to HCM City reach 2.3 billion USD in five months

Overseas remittances sent to Ho Chi Minh City reached 2.3 billion USD this year to early June, down 1.9 percent year-on-year, said the municipal branch of the State Bank of Vietnam.
Remittances sent to HCM City reach 2.3 billion USD in five months ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Overseas remittances sent to Ho ChiMinh City reached 2.3 billion USD this year to early June, down 1.9 percentyear-on-year, said the municipal branch of the State Bank of Vietnam.

The 2019 figure hit 5.3 billion USD, which is forecast todecrease this year due to the impact of COVID-19.

The local remittance companies said remittances in the firsttwo quarters dropped significantly, especially those from major labour exportmarkets of Vietnam such as Japan, Taiwan (China), and the Republic of Korea andtraditional markets like the US, the UK, Canada and Australia.

The World Bank also predicted that the globalremittances will decline by about 20 percent this year due to COVID-19. TheEast Asia and Pacific is expected to see a 13 percent decrease./.
VNA
#overseas remittances #State Bank of Vietnam #Vietnamplus #Vietnam News Agency #World Bank #labour export markets Ho Chi Minh City
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