Ho Chi Minh City receives over $5.2 billion in remittances in first half of 2025

Ho Chi Minh City receives over $5.2 billion in remittances in first half of 2025

Remittance flows to Ho Chi Minh City continued to grow in the first half of 2025, driven by a strong second quarter as overseas workers sent more money home amid stable exchange rates and improving global labour demand.

According to the State Bank of Vietnam’s (SBV) Region 2 branch, overseas remittances to Ho Chi Minh City reached $5.23 billion in the first six months of 2025. In the second quarter alone, the city received $2.82 billion through credit institutions and economic organisations, up almost 17 per cent from the previous quarter and just over 22 per cent on-year.

Tran Thi Ngoc Lien, deputy director of SBV’s Region 2 branch, said, "Remittance flows in the second quarter of this year increased sharply compared to recent similar periods."

By market, Africa recorded the highest growth in remittances sent to Ho Chi Minh City (around 130 per cent), followed by Europe with 16 per cent, the Americas with almost 12 per cent, and Oceania with 9 per cent.

Asia continued to solidify its leading position in the remittance landscape with the largest proportion of money. This is attributed to the increased remittance flows from markets such as Japan, South Korea, and Taiwan, which host Vietnamese workers overseas.

"The remittance flows that have grown steadily over the years have facilitated the city’s economic growth, stimulated consumption and investment, and increased foreign currency supply," added Lien.

As of June 30, some former localities, including Ba Ria-Vung Tau, Binh Duong, Dong Nai, and Binh Phuoc, recorded $127.5 million in remittances through credit institutions. These localities don't have economic organisations that directly receive or disburse foreign currency.

Specifically, remittances transferred via credit institutions amounted to over $27.2 million in the former Ba Ria-Vung Tau, over $53.2 million in Binh Duong, over $42.3 million in Dong Nai, and more than $4.6 million in Binh Phuoc.

Since July 1, the SBV’s Region 2 branch is overseeing the administrative management of Ho Chi Minh City (including the former Ba Ria-Vung Tau and Binh Duong) and Dong Nai (including the former Dong Nai and Binh Phuoc).

VIR