It is expected that the overseas remittances to the city in 2020 would reach US$5.5 billion, an increase of 8 percent compared with the same period in 2019.
According to the World Bank (WB), overseas remittances to Vietnam reached US$16.7 billion in 2019, nearly US$16 billion in 2018, US$13.8 billion in 2017 and US$11.88 billion in 2016 respectively.
WB predicted that the amount of global remittances in 2020 will decrease by around 20 percent due to the Covid-19 pandemic, of which the East Asia and Pacific region will see a decrease by 13 percent, mainly due to the decline in cash flow from the United States which is considered to be the main source of remittances in the areas.
