Overseas remittances transferred to HCMC estimated at US$5.5 billion

SGGP
The State Bank of Vietnam - Ho Chi Minh City Branch said that this year, although the Covid-19 pandemic has had a significant impact on the life of overseas Vietnamese, the amount of remittances transferred to HCMC remains stable.
It is estimated that the number of overseas remittances transferred to the city will reach around US$5.5 billion this year, higher than the level of $5.3 billion last year.

According to a recent announcement of the World Bank, in 2020, the number of overseas remittances to Vietnam will possibly decrease by more than 7 percent compared to last year, to about $15.7 billion, accounting for 5.8 percent of gross domestic product. However, Vietnam will still be in the top ten countries with the largest overseas remittances.

By Nhung Nguyen – Translated by Kim Khanh

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