VietnamExpress-Nov 9

Remittances to Vietnam are set to fall for the first time since 2009 to $15.7 billion this year over Covid-19 impacts. However, even though this is a 7.6 percent drop from last year’s $17 billion, Vietnam will remain the ninth biggest remittance beneficiary in the world, according to a recent report by the World Bank.

In the East Asia and Pacific region, the country is forecast to rank third behind China ($59.5 billion) and the Philippines ($33.3 billion). This year’s remittance is estimated at 5.8 percent of Vietnam’s GDP, compared to 6.5 percent last year.

Read more at: https://e.vnexpress.net/news/business/data-speaks/remittances-to-fall-for-first-time-in-11-years-4187983.html