HCM CITY — Total overseas remittances sent to HCM City, the country’s largest recipient, last year exceeded US$10.34 billion, up 8.3 per cent year on year.

Data from the State Bank of Vietnam (SBV)’s Region 2 branch show that remittances were primarily transferred via economic organisations, reaching nearly $7.43 billion, or about 71.8 per cent of the total. Transfers through credit institutions, meanwhile, amounted to almost $2.92 billion, or 28.2 per cent.

By source region, Asia continued to be the largest contributor, with remittances approximating $5.06 billion, or 48.9 per cent of the total inflows to the city. Compared with 2024, remittances from Asia rose by 3.2 per cent, reflecting the stability of traditional markets such as Japan, the Republic of Korea, Taiwan (China) and Southeast Asian countries, where a large number of Vietnamese work on long-term contracts.

Although growth was modest, Asia remained the “mainstay” due to its scale and steady flows, the SBV branch said.

The Americas ranked second, with remittances exceeding $3.3 billion, accounting for 31.9 per cent of the total and rising 11.8 per cent year on year. This increase indicates improved incomes among the Vietnamese communities in the US and Canada, as well as a growing trend of remittances for investment, consumption and family support.

In recent years, the Americas have consistently made a substantial contribution while maintaining relatively stable growth.

Remittances from Europe totalled $921.46 million, making up 8.9 per cent and growing 16 per cent from 2024. The result suggests better economic conditions and incomes among Vietnamese nationals in EU countries, particularly in services, skilled labour and small-scale business.

Oceania recorded remittances of $893.62 million to HCM City, representing an 8.6 per cent share and an annual rise of 15.1 per cent. This was regarded as a notable growth, reflecting steady transfers from Vietnamese communities permanently settled in the region.

Although accounting for just 1.7 per cent of total remittances, or around $173.35 million, Africa registered the highest growth rate of 39.3 per cent. While the absolute value remains modest, the sharp increase highlights the expanding presence of Vietnamese workers and businesses on the continent in recent years, according to the central bank.

Trần Thị Ngọc Liên, deputy director of the SBV Region 2 branch, said remittances to HCM City remained stable in 2025, with Asia and the Americas accounting for over 80 per cent, while rising flows from Europe, Oceania and Africa helped diversify sources. — VNA/VNS