Remittances to Vietnam in 2024 hit $16 bln

Overseas remittances to Vietnam were estimated at $16 billion in 2024, according to Mr. Nguyen Duc Lenh, deputy director of the State Bank of Vietnam (SBV) Ho Chi Minh City branch.

Of which, remittances to Ho Chi Minh City hit $9.6 billion, up $140 million compared to the previous year, and accounting for 60% of the total. 

Remittances to HCM City from Asia still account for the highest proportion of up to 53.8% of its total, a year-on-year increase of 24.1%. Meanwhile, remittances from the Oceania, American, and European regions to the southern city surged 20%, 4.4%, and 19.1%, respectively.

Over the past three years, the amount of remittances to HCM City kept increasing significantly, accounting for around 55% of the total remittances to the country annually.