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Saturday, July 13, 2024

Vietnam among world’s top 10 remittance receivers

By N.Tan

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HCMC – Vietnam is now among the top 10 countries for receiving the most remittances in the world as money transfers from overseas rose nearly 5% last year and are expected to increase by 3.6-4.5% this year, according to the World Bank.

A report from the World Bank and KNOMAD showed that remittances to Vietnam have remained stable in recent years despite the impacts of the Covid-19 pandemic and high inflation in many other countries.

Remittances to Vietnam expanded to nearly US$19 billion last year, around US$1 billion higher than the figure in 2021.

With this impressive result, Vietnam made it to the top three in the Asia-Pacific region and the top 10 countries for receiving the most remittances in the world in 2022.

Of the total remittances transferred to Vietnam every year, the U.S. has the largest number of Vietnamese immigrants, followed by the UK, Australia, and Canada.

Remittances mainly come from the countries and territories which employ many Vietnamese guest workers, such as Japan, South Korea, and Taiwan (China).

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