Remittances from migrant workers fall 17% to $1.2B in 2020: NBC data

[geovalin]

Cambodia received $1.2 billion in remittances from migrant workers abroad last year, marking a sharp 17 per cent drop from $1.5 billion in 2019, the National Bank of Cambodia reported.

 

The top source countries for remittances to the Kingdom – Thailand, South Korea, Japan and Malaysia, booked shares of overall remittances at 73 per cent, 16 per cent, six per cent and 1.4 per cent, respectively, all logging year-on-year drops of 11 per cent, 30 per cent, four per cent and 51 per cent.

 

The central bank said: “The Covid-19 pandemic has exacerbated economic activities, especially businesses, thus reducing demand for labour.

 

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