According to data from the State Bank of Vietnam's Branch in HCM City, remittances from Asia continued to dominate, accounting for over 59% of the total sum. They saw growth of 7.5% from the fourth quarter of 2023, and a substantial rise of 86% year-on-year.
Meanwhile, remittances from Europe and Oceania saw declines from the last quarter of 2023.
Despite ongoing global economic challenges and complex geopolitical conflicts, the figures reflected a continuing growth trend, with these remittances playing a crucial role in the city’s socio-economic development.
Moreover, related payment services in the southern largest economic hub have improved, ensuring convenience, safety, and efficiency.
Last year, remittances to HCM City rose 43.3% year-on-year to 9.46 billion USD, a record high over the past decade and accounting for more than half of the national total./.
