HCM City among top remittance receipients in Vietnam in 2019
According to the latest data from the World Bank, Vietnam is ninth largest overseas remittance receiver in the world, and third in Asia. The country has held the ranking for five consecutive years.
Ho Chi Minh City is among the localities that receives the highest amount of remittances in Vietnam, accounting for up to 50% of the country’s total in recent years.
This year, remittance inflow to the southern metropolis has exceeded 4 billion USD and counting.
Year-end is the high season for remittance transfers. As a result, local commercial banks have been providing additional transfer services to meet clients’ demands.
The country’s total remittances this year are expected to amount to 16.7 billion USD, accounting for 6.4% of national GDP structure.
The remittance inflow has soared compared to 26 years ago, from 140 million in 1993 to 16 billion USD in 2018./.
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