Average transaction cost of remittances (%) - Country Ranking

Definition: Average transaction cost of remittances is the average of the total transaction cost in percentage for sending the local currency equivalent of US$ 200 charged by each single remittance service provider.

Source: World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Korea 19.24 2012
2 Botswana 18.61 2015
3 Papua New Guinea 17.33 2011
4 Mozambique 17.32 2015
5 Angola 16.90 2015
6 Zambia 16.69 2015
7 Vanuatu 15.75 2015
8 Malawi 15.61 2015
9 Solomon Islands 15.40 2011
10 Lesotho 14.55 2015
10 Swaziland 14.55 2015
12 Lebanon 13.21 2015
13 Lao PDR 13.10 2015
14 Rwanda 13.06 2015
15 Cambodia 12.21 2015
16 Uganda 12.17 2015
17 Tuvalu 11.86 2011
18 Zimbabwe 11.82 2015
19 Kiribati 11.45 2011
20 Cabo Verde 10.78 2015
21 Sudan 10.70 2015
22 Samoa 10.47 2015
23 Tanzania 10.43 2015
24 China 10.37 2015
25 Algeria 10.37 2015
26 Tonga 9.90 2015
27 Fiji 9.85 2015
28 Bosnia and Herzegovina 9.69 2015
29 Serbia 9.58 2015
30 Lithuania 9.28 2015
31 Kenya 9.22 2015
32 Bulgaria 9.12 2015
33 Eritrea 9.11 2015
34 Haiti 8.93 2015
35 Ghana 8.92 2015
36 Guyana 8.91 2015
37 Jamaica 8.65 2015
38 South Africa 8.43 2015
39 Nigeria 8.37 2015
40 Costa Rica 8.30 2015
41 Thailand 8.28 2015
42 The Gambia 8.14 2015
43 Brazil 8.13 2015
44 Togo 8.06 2015
45 Albania 8.05 2015
46 Dem. Rep. Congo 8.02 2015
47 Estonia 7.94 2015
48 Madagascar 7.92 2015
49 Moldova 7.90 2015
50 Vietnam 7.78 2015
51 Ethiopia 7.76 2015
52 Afghanistan 7.58 2015
53 Turkey 7.40 2015
54 Myanmar 7.39 2015
55 Malaysia 7.16 2015
56 Morocco 7.01 2015
57 Suriname 6.88 2015
58 Indonesia 6.86 2015
59 Macedonia 6.77 2015
60 India 6.74 2015
61 Somalia 6.64 2015
62 Dominican Republic 6.64 2015
63 Poland 6.46 2015
64 Latvia 6.29 2015
65 Colombia 6.21 2015
66 Romania 6.21 2015
67 Tunisia 6.14 2015
68 Côte d'Ivoire 6.13 2015
69 Paraguay 6.11 2015
70 Jordan 6.03 2015
71 Philippines 5.88 2015
72 Hungary 5.83 2015
73 Senegal 5.59 2015
74 Sri Lanka 5.54 2015
75 Sierra Leone 5.53 2015
76 Peru 5.50 2015
77 Egypt 5.43 2015
78 Bolivia 5.42 2015
79 Pakistan 5.30 2015
80 Liberia 5.25 2015
81 Mali 5.23 2015
82 Mexico 5.02 2015
83 Ukraine 4.85 2015
84 Guatemala 4.80 2015
85 Croatia 4.79 2015
86 Panama 4.68 2015
87 Syrian Arab Republic 4.67 2015
88 Ecuador 4.66 2015
89 Cameroon 4.49 2015
90 El Salvador 4.41 2015
91 Honduras 4.31 2015
92 Nicaragua 4.24 2015
93 Bangladesh 4.06 2015
94 Yemen 3.99 2015
95 Nepal 3.97 2015
96 Tajikistan 2.52 2015
97 Kyrgyz Republic 2.07 2015
98 Uzbekistan 1.86 2015
99 Kazakhstan 1.55 2015
100 Armenia 1.54 2015
101 Belarus 1.49 2015
102 Georgia 1.36 2015
103 Azerbaijan 1.27 2015

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Development Relevance: The average cost of sending remittances provides a tool to measure progress towards the G20 commitment to reduce the cost of remittance services. Remittance cost is also higlighted in Sustainable Development Goal 10. Target 10.c calls for reducing to less than 3 percent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 percent by 2030.

Aggregation method: Unweighted average

Periodicity: Annual