15:45 | 12/01/2016 Finance - Banking
Vietnam received US$12.25 billion in remittances in 2015, higher than 2014’s figure of US$12 billion, according to the World Bank (WB).
The country ranks 11th in the world and 3rd in the East Asian-Pacific region in terms of 2015 foreign remittance
The country ranks 11th in the world and 3rd in the East Asian-Pacific region in terms of foreign remittance, following China and the Philippines.
Statistics from the State Committee for Overseas Vietnamese Affairs under the Ministry of Foreign Affairs showed that nearly five million Vietnamese are residing in 103 countries and territories around the world.
Remittances to Vietnam were US$9 billion in 2011, US$10 billion in 2012, US$11 billion in 2013 and US$12 billion in 2014.
Between 1993 and 2014, Vietnam received total remittances of about US$96.66 billion, with an average remittance of US$4.4 billion per year, accounting for 6.8% of the country's gross domestic product (GDP) over the period.
Remittances into Vietnam have increased about 22.4% annually in the past two decades, with an exception in 1997 and 2009 when economies in the world faced a financial crisis./.