July 21, 2023 | 06:40

Remittances to HCMC up 37% in 1H

Minh Tú

An estimated $4.33 billion sent to southern city in the first half of the year.

Remittances to HCMC up 37% in 1H

The volume of remittances sent to Ho Chi Minh City continued to increase in the first half of 2023, despite many countries still grappling with economic slowdown and high unemployment.

Remittances to the southern city reached $4.33 billion during the period, a year-on-year surge of 37 per cent, figures from the State Bank of Vietnam’s (SBV) Ho Chi Minh City branch show.

In the second quarter alone, remittances hit $2.2 billion, up 4.5 per cent compared to the first quarter.

Remittances from Asia and Africa increased significantly year-on-year in the second quarter. Money sent from Asia accounted for the highest proportion, of 47 per cent of the total sent to the city, up 14.4 per cent against the first quarter.

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