Statizoid

Average transaction cost of sending remittances to a specific country (%) by country

Average transaction cost of sending remittance to a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database to a specific country.

Countries reporting
98
Highest
19.6%
Cuba
Lowest
-49.7%
Malawi
Median
2.8%
Years covered
8
2016–2023
Data points
768

What the numbers show

Average transaction cost of sending remittances to a specific country (%) is currently reported for 98 countries. The highest value is 19.6% in Cuba; the lowest is -49.7% in Malawi.

The median across all reporting countries is 2.8%, and the mean is 3.3%.

Over the past decade 10 countries rose and 88 fell. The largest increase was in Cuba (up 202.0%), and the largest decrease in Malawi (down 451.0%).

Average transaction cost of sending remittances to a specific country: full country ranking

#Country LatestYear 10-year changeTrend
1 Cuba 19.6% 2023 up 202.0% rising
2 Angola 12.8% 2023 down 18.5% falling
3 Sierra Leone 10.3% 2023 up 2.9% flat
4 Tajikistan 10.3% 2023 up 9.8% volatile
5 Vanuatu 9.5% 2023 up 13.6% flat
6 Eritrea 9.2% 2023 up 23.9% falling
7 Afghanistan 9.0% 2023 up 28.1% rising
8 Uganda 8.9% 2023 up 7.9% rising
9 Botswana 8.4% 2023 down 56.2% falling
10 Zambia 8.1% 2023 down 35.7% falling
11 Guyana 7.9% 2023 down 21.1% falling
12 Algeria 7.8% 2023 down 14.8% falling
13 Bangladesh 7.7% 2023 up 101.0% rising
14 Gambia 6.8% 2023 down 50.4% falling
15 South Sudan 6.5% 2023 down 15.1% volatile
16 Somalia 6.0% 2023 down 17.6% falling
17 Rwanda 5.8% 2023 down 38.0% falling
18 Albania 5.6% 2023 down 53.2% falling
19 Tunisia 5.5% 2023 down 41.6% falling
20 Tanzania 5.3% 2023 down 54.5% falling
21 Lebanon 5.3% 2023 down 48.5% falling
22 Zimbabwe 5.3% 2023 down 53.4% falling
23 Laos 4.9% 2023 down 65.9% volatile
24 Haiti 4.7% 2023 down 38.1% falling
25 Paraguay 4.7% 2023 down 25.4% falling
26 Nigeria 4.6% 2023 down 43.4% falling
27 Samoa 4.6% 2023 down 50.2% falling
28 South Africa 4.6% 2023 down 60.5% volatile
29 Armenia 4.4% 2023 up 34.8% rising
30 Kyrgyzstan 4.2% 2023 down 40.3% falling
31 Morocco 4.2% 2023 down 44.1% falling
32 Tonga 4.1% 2023 down 50.0% falling
33 Myanmar 4.0% 2023 down 26.0% volatile
34 Bosnia and Herzegovina 3.9% 2023 down 59.5% volatile
35 Kenya 3.9% 2023 down 57.4% falling
36 Mozambique 3.8% 2023 down 67.7% falling
37 Jamaica 3.6% 2023 down 60.2% falling
38 Peru 3.6% 2023 down 42.2% falling
39 Bulgaria 3.5% 2023 down 61.1% falling
40 Vietnam 3.5% 2023 down 56.0% falling
41 Bolivia 3.4% 2023 down 45.9% falling
42 Cape Verde 3.4% 2023 down 55.4% falling
43 Ethiopia 3.4% 2023 down 58.5% falling
44 Jordan 3.4% 2023 down 40.8% falling
45 Egypt 3.3% 2023 down 37.4% falling
46 Fiji 3.2% 2023 down 59.6% falling
47 Cameroon 3.0% 2023 down 44.6% falling
48 Madagascar 2.9% 2023 down 69.0% falling
49 Liberia 2.8% 2023 down 52.1% falling
50 China 2.8% 2023 down 73.7% falling
51 Estonia 2.8% 2021 down 56.4% falling
52 Mexico 2.7% 2023 down 57.2% falling
53 Honduras 2.6% 2023 down 56.9% falling
54 Guatemala 2.6% 2023 down 52.1% falling
55 Nepal 2.5% 2023 down 48.3% falling
56 Dominican Republic 2.5% 2023 down 67.6% volatile
57 Panama 2.5% 2023 down 53.3% falling
58 Indonesia 2.4% 2023 down 66.6% falling
59 Colombia 2.4% 2023 down 67.9% volatile
60 Brazil 2.4% 2023 down 66.3% falling
61 Turkey 2.3% 2023 down 71.8% volatile
62 Nicaragua 2.3% 2023 down 41.7% falling
63 Ecuador 2.3% 2023 down 45.6% falling
64 Costa Rica 2.3% 2023 down 64.5% falling
65 Sri Lanka 2.2% 2023 down 63.9% falling
66 Pakistan 2.1% 2023 down 62.6% falling
67 Cambodia 2.1% 2023 down 62.1% falling
68 North Macedonia 2.1% 2023 down 77.1% volatile
69 Uzbekistan 2.1% 2021 up 22.3% rising
70 Latvia 2.1% 2021 down 56.0% falling
71 Togo 2.1% 2023 down 75.6% volatile
72 Thailand 2.0% 2023 down 81.7% volatile
73 Moldova 2.0% 2023 down 66.9% falling
74 Ghana 2.0% 2023 down 77.3% volatile
75 El Salvador 2.0% 2023 down 55.5% volatile
76 Democratic Republic of Congo 2.0% 2023 down 79.4% falling
77 Palestine 2.0% 2023 down 79.7% volatile
78 Serbia 1.9% 2023 down 81.4% volatile
79 Lesotho 1.8% 2023 down 88.6% volatile
79 Eswatini 1.8% 2023 down 89.1% volatile
81 India 1.8% 2023 down 71.6% falling
82 Comoros 1.7% 2023 down 60.4% falling
83 Mali 1.7% 2023 down 70.6% falling
84 Philippines 1.7% 2023 down 69.1% falling
85 Hungary 1.6% 2023 down 80.8% volatile
86 Lithuania 1.4% 2023 down 71.1% volatile
87 Azerbaijan 1.3% 2021 down 4.6% falling
88 Belarus 1.3% 2021 down 0.1% rising
89 Kazakhstan 1.2% 2021 down 13.9% falling
90 Malaysia 1.0% 2023 down 90.6% volatile
91 Poland 0.9% 2023 down 88.9% volatile
92 Romania 0.9% 2023 down 86.6% volatile
93 Georgia 0.8% 2021 down 29.9% falling
94 Cote d'Ivoire 0.7% 2023 down 88.8% volatile
95 Senegal 0.7% 2023 down 86.8% falling
96 Ukraine 0.7% 2023 down 88.1% falling
97 Croatia 0.3% 2023 down 95.7% volatile
98 Malawi -49.7% 2023 down 451.0% volatile

Regions and income groups

Aggregates are excluded from the country ranking above so that a region can never outrank a country.

About this data

Indicator
Average transaction cost of sending remittances to a specific country (%)
Unit
%
Source
Remittance Prices Worldwide, World Bank (WB)
Licence
CC BY 4.0 (World Bank Open Data)
Coverage
99 places, 768 data points, 2016–2023
Last refreshed

Average transaction cost of sending remittance to a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database to a specific country.