Remittance flows into Vietnam approximated 19 billion USD in 2022. (Photo: VNA) Despite the COVID-19 pandemic’s major impacts on the globaleconomy over the last two years and growing inflation in many countries,remittance flows into Vietnam remained relatively stable compared to previousyears, the report noted.
Total remittances to Vietnam increased by nearly 5% in 2022and may go up 3.6 - 4.5% in the following years after growing 5% in 2021, according to statistics of WB and KNOMAD.
Last year, the value rose about 1 billion USD to approximate19 billion USD, making the country one of the three biggest recipients in theAsia-Pacific and among the top 10 globally in terms of remittances.
Some banksperceived that the growing remittance inflows will help them not only gain moreprofits from services but also boost foreign exchange reserves, serving Vietnam’sforeign currency attraction policy.
Among remittance sources, the US houses the largest number ofVietnamese immigrants, followed by the UK, Australia, and Canada. Meanwhile,Japan, the Republic of Korea, and Taiwan (China) post the most number ofworkers from Vietnam./.
VNA
