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Remittances in 2020 are estimated at nearly USD 15.7 billion
According to the World Bank, amount of remittances to Vietnam in 2020 is forecast to reach more than USD 15.68 billion USD, equivalent to 5.8% of GDP.
According to the State Committee for Overseas Vietnamese, currently, there are about 5.3 million Vietnamese people living and working in 130 countries and territories, 80% of which are in developed countries.
The Vietnamese community abroad is increasingly attached to the homeland and becomes one of the important resources for the country's development and international integration. In particular, the source of remittances sent home has been and is contributing significantly to the development of many industries and fields.
The Vietnamese community abroad has an increasingly close relationship with the homeland and has become one of the most important resources for the country's development and international integration. In particular, the amount of remittances sent home has been and is contributing significantly to the development of many industries and fields.
Since 2015 to date, Vietnam has always been among the world’s top 10 remittance recipient countries. Every year, the amount of remittances sent by overseas Vietnamese is constantly increasing and plays an increasingly important role in the economy. According to the World Bank (WB), in 2019, the amount of remittances sent home reached USD 16.7 billion.
After many years of continuous increase, in 2020, the amount of remittances is forecast to decrease. According to the recent World Bank's Migration and Remittance Report, the amount of remittances flowing to Vietnam in 2020 may decrease by more than 7% compared to 2019 to USD 15.7 billion, accounting for 5.8% of GDP. However, Vietnam is still among the top 10 countries with the largest amount of remittances.
Currently, there are more than 25,000 overseas Vietnamese enterprises investing in the country with about 3,000 projects, with a total capital of more than USD 9 billion in many fields and industries. Overseas Vietnamese businesses really become an important part of the Vietnamese business community in the world.
- Interbank overnight interest rate suddenly dropped below 3% p.a.
- 2023 credit growth target of around 14-15%
- Further deposit rate decreases are on the way
- Positive signals in the interbank market
- HSBC: Inflation is higher than expected, SBV is likely to raise interest rates by 50 percentage points
- BVSC: Pressure remains, interest rates are unlikely to go lower in the first months of the year
- Vietnam is in the top 10 in the world for receiving the most remittances
- Nearly USD 19 billion, remittances to Vietnam are still with positive signals
- SSI: Inflation pressure will increase sharply in the first half of 2023
- VnDirect: Interest rate pressure remains in the first half of 2023