ADB: Cambodia could see 15% decline in international remittances in 2020

Cambodia could lose more than 15% of its international remittances in 2020 due to COVID-19 pandemic, according to a report by the Asian Development Bank (ADB). Based on the country's total remittances of $2.8bn in 2019, that would translate to more than $420mn loss as hundreds of thousands of workers have returned home due to the pandemic. Last year, 1.2 million Cambodian workers, employed in Thailand, South Korea, Japan, Singapore, Hong Kong, Malaysia, and Saudi Arabia sent home some $2.8bn in remittances, an increase from $1.4bn in 2018, according to figures from the Ministry of Labor and Vocational Training. (Source: Khmer Times)

Economy & Industry

04th August 2020


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