Remittances to HCM City reach nearly 1.8 billion USD in Q1

Illustrative image. (Photo: VNA)

The volume showed a 14.2 percent increase compared to the same period last year.

Those are impressive figures in the context of complex changes in the world situation and the negative impact of the COVID-19 pandemic on global trade and economic activities.

Foreign remittances account for around 12 percent of HCM City’s GRDP, becoming an important resource for socio-economic development in not only the city but also the country as a whole.

Last year, remittances to the city came to a record high of 7.1 billion USD, accounting for more than half of the national volume.

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