Remittances to Ho Chi Minh City hit $6.1 billion in 2020

VietnamPlus Thursday | 02/04/2021 11:41

Photo: VietnamPlus

Remittances to Ho Chi Minh City rose by 12 percent year-on-year to $6.1 billion in 2020 despite the COVID-19 pandemic, according to the State Bank of Vietnam’s Branch in HCM City.

The figure is around $600 million higher than the forecast by financial organisations.

In recent years, remittances to the city have grown by 8-10 percent on average each year, mostly those from the US, Europe, Australia and Taiwan (China).

In particular, remittances from the US to Ho Chi Minh City have so far accounted for around 30-40 percent of the country’s total.

Source: VietnamPlus