Vietnam second in Southeast Asia remittance ranking

Vietnam ranked second in the Southeast Asian region for overseas remittance with $10 billion in 2012, according to the latest report issued by the World Bank (WB).

The Philippines topped the list with $24.45 billion. Indonesia came third with $7.2 billion, followed by Thailand ($4.12 billion), Malaysia ($1.27 billion) and Myanmar ($0.56 billion).

On the global scale, Vietnam ranked ninth, while India came on top with $69 billion.

According to the WB, remittance to Southeast Asian countries totalled $47.96 billion in 2012, up 8.43 percent over the previous year, but far lower than the recorded $109 billion.

Remittance to developing countries is expected to grow on average 8.8 percent per annum for the next three years and is forecast to reach $515 billion in 2015.

Since 2000, overseas remittance flow to developing countries has increased fourfold.

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