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In the first quarter of 2026, remittance flows to Ho Chi Minh City fell sharply, reaching USD 2.004 billion—down 15.6% from Q4 2025 and down 16.9% compared with the same period in 2025.
According to the State Bank of Vietnam (SBV) – Ho Chi Minh City Region 2 Branch, remittance flows routed through credit institutions and economic organizations in Ho Chi Minh City in Q1 2026 totaled more than USD 2.004 billion. The figure represents a decline of 15.6% versus Q4 2025 and 16.9% versus Q1 2025.
The SBV attributed the decrease to a combination of global economic and geopolitical factors. The world economy is recovering slowly, inflation remains high, and the cost of living has risen, which has directly affected the income of Vietnamese workers abroad.
In addition, prolonged tightening of monetary policy in major economies has reduced the ability to transfer money home. Geopolitical tensions in the Middle East have also contributed to energy price volatility, increasing global inflationary pressure and affecting workers’ real incomes.
Domestically, while Vietnam’s macroeconomic stability persists, some investment channels have not yet attracted remittance inflows. The interest rate gap between VND and USD is also not large, which may reduce incentives for overseas Vietnamese to send money home.
Seasonal effects after the peak remittance period during holidays and Tet are another factor contributing to lower remittances in the first quarter.
Despite the decline, the SBV noted that it also creates opportunities for Ho Chi Minh City and Vietnam to adjust strategies to attract remittances. Improving the investment climate, strengthening policies to support the diaspora, and developing more attractive investment channels are cited as potential measures to draw funds from abroad.
The SBV added that remittance flows may not yet show a clear upward trend, as they remain dependent on both global and domestic economic developments. However, with timely adjustments and sustainable development strategies, Ho Chi Minh City could turn current challenges into opportunities and build momentum for long-term economic development.
SBV statistics also show that in Dong Nai Province, as of March 31, 2026, remittances were primarily channeled through credit institutions, totaling more than USD 36.4 million—down 15.7% from the end of 2025.
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