Remittances to HCMC rise nearly 40% in Q3

Remittances to HCMC reached more than US$2.83 billion in the third quarter, up 39.5% from the previous quarter and 3.6% year-on-year.

This was the first quarter of positive annual growth this year, helping narrow the decline in remittance inflows over the first nine months.

The result marked a recovery in remittance inflows after two consecutive quarters of year-on-year declines, at 16.9% and 27.9%, respectively. Positive growth in the third quarter indicates an improvement in money transfers from overseas, although cumulative remittances since the beginning of the year remained below the level recorded in the same period of 2025.

By region, Asia remained the largest source of remittances to HCMC, with nearly $1.68 billion, or 59.1% of the total. The Americas ranked second, with $748.5 million or 26.4%. Remittances from Europe reached $222.1 million, while those from Oceania totalled $173.2 million.

Notably, economic organisations directly receiving and paying out foreign currencies accounted for the largest share, handling more than $2.2 billion, or 77.7% of total remittances. Remittances through this channel rose 58.5% from the previous quarter. By contrast, remittances transferred through credit institutions reached $631.4 million, down slightly by 1.6%.

Tran Thi Ngoc Lien, Deputy Director of the SBV Regional Branch 2, said the recovery in remittances to HCMC was driven mainly by the Asian market. The Korean won’s appreciation against the U.S. dollar was one factor affecting inflows, she noted. Seasonal factors also contributed to increased demand for transfers to support domestic investment and consumption as the year-end approaches.

Despite the improvement in the third quarter, remittances to HCMC remained under pressure over the first nine months of the year. Cumulative inflows through September 2026 reached nearly $6.87 billion, down 13.8% year-on-year. However, the third-quarter increase significantly narrowed the cumulative decline from 22.8% in the first half of the year.

The SBV Regional Branch 2 forecasts that remittances to HCMC could reach around $9.5-9.8 billion for the whole of 2026, below the $10.3 billion recorded in 2025.

The recovery in remittance inflows in the third quarter is expected to continue in the final months of the year, helping meet rising foreign currency demand as production, business activities, imports and holiday and Lunar New Year spending enter their peak period.