Ho Chi Minh City remittances near $8 billion in first nine months of 2025

According to the State Bank of Vietnam’s (SBV) Region 2 branch, remittances to Ho Chi Minh City reached $7.97 billion in the first nine months of 2025, up 6.25 per cent on-year. In the third quarter alone, the city received $2.74 billion – slightly lower than the previous quarter but 18 per cent higher than the same period last year.

Tran Thi Ngoc Lien, deputy director of SBV’s Region 2 branch, said, “Amidst the global economic volatility, remittance inflows to Ho Chi Minh City remain a positive growth rate. The stability of this cash flow continues to contribute to stabilising exchange rates and supporting local economic development.”

Asia remains the largest source of remittances to Ho Chi Minh City in the first nine months, accounting for just over half of the total sum. It is followed by the Americas (30 per cent), the EU (9 per cent), Oceania (8 per cent) and Africa (2 per cent).

In particular, Africa saw the highest growth in remittances sent to the municipal city, up over 150 per cent from a year earlier. In the third quarter, Africa also saw a striking 266 per cent jump compared with last year’s period. Other regions also recorded positive growth, such as Europe (up 16.7 per cent), Oceania (11 per cent) and the Americas (10 per cent), while Asia decreased slightly by almost 3 per cent.

"Most remittances are still transferred through credit institutions and economic organisations located in wards and communes of the former Ho Chi Minh City," said Lien. "The former Ba Ria – Vung Tau and Binh Duong areas only account for about 2 per cent of the total remittances."

"The fourth quarter of the year is typically the peak season for remittances, as it coincides with Christmas, New Year, and the Lunar New Year holidays. In 2024, Ho Chi Minh City received approximately $9.6 billion in remittances, representing a significant share of Vietnam’s total remittance inflow of $16 billion," Lien added.

The flows of remittances to Ho Chi Minh City reached $5.5 billion in the first nine months of 2024, a 10 per cent increase against the same period last year, according to Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Ho Chi Minh City branch, at a conference on October 11.

Remittances to Ho Chi Minh City reached a record $9.6 billion in 2024, up $140 million from the previous year.

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.