Vietnam maintained the ninth country in the top recipients of officially recorded remittances for 2013, said World Bank on October 3.
Vietnam is said to receive record US$11 billion remittances this year. Last year the Southeast Asian nation was ranked ninth on the World Bank's list of the 10 countries that attracted the most overseas remittances, with US$10 billion in 2012.
India received record US$71 billion remittances topping the list of developing countries which are expected to receive a total of US$550 billion this year, the World Bank has informed.
After India, China stands second with US$60 billion, followed by the Philippines with US$26 billion.
WB announced the global average cost for sending remittances is 9 percent. Remittance volumes to developing countries, as a whole, are projected to continue growing strongly over the medium term, averaging an annual growth rate of 9 percent to reach US$540 billion in 2016.
Global remittances, including those to high-income countries, are estimated to touch US$550 billion this year, and reach a record US$707 billion by 2016.
