The roughly US$206 billion in remittances that Vietnam has received from 1993 (the first year remittances were recorded) until 2023 represent a "golden resource" for the economy. Where exactly are these country-loving funds flowing to?

Remittances sent by Vietnamese nationals abroad hit approximately US$16 billion last year, representing a year-on-year rise of 32%, according to the State Bank of Vietnam.

Vietnam remains one of the 10 countries receiving the most remittances in the world, according to the recent Migration and Development Brief by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD).

The amount of remittances flowing to Ho Chi Minh City has continued to increase despite complicated geopolitical changes in the world, reaching about 6.8 billion USD so far.

The flow of overseas remittances to Ho Chi Minh City stood at an estimated US$4.78 billion during the opening nine months of the year, equal to 68% of the amount recorded in 2021, the State Bank of Vietnam’s branch in the southern city has reported.

The State Bank of Vietnam (SBV) roughly estimated that remittances inflow to Vietnam reached $12.5 billion in 2021.

Vietnamese nationals abroad have sent home some US$12.5 billion this year, a year-on-year increase of 10%, according to the State Bank of Vietnam (SBV).

Remittances transferred to HCM Cịty last year reached a record US$6.1 billion, an increase of 12 per cent year on year.

Inward remittances to Vietnam topped US$15.7 billion last year, the ninth highest in the world.

Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world.

Overseas remittances to Vietnam this year have been forecasted to fall by 17% this year due to the Covid-19 pandemic, according to a local economist.

Overseas remittances to HCM City were estimated to reach $3.45 billion in the first eight months of this year, according to the State Bank of Vietnam’s HCM City branch.

The newly released World Bank’s “Migrating to Opportunity” report shows that in 2015, ASEAN countries received a total $62 billion worth of overseas remittances. 

 VietNamNet Bridge – Despite overseas remittances off to a strong start this year, experts have expressed concerns about “complicated fluctuations” likely at home and abroad.

 VietNamNet Bridge – Overseas remittances to Vietnam have remained the yearly increase level of US$1 billion since 2011 and hit US$12 billion last year.

VietNamNet Bridge – Recipients of overseas remittance are buying land and houses instead of depositing money in banks or keeping the cash, as they believe that real estate prices will climb due to new government policies.

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