Cost of Sending Remittances 2021

Report year 2021·Data year 2021

Average cost of sending $200 home (% of the amount)·Higher is worse — rank 1 is worst affected·Published by World Bank Group

8 reference years (2016–2023), covering 93 to 104 countries, from the World Bank’s Remittance Prices Worldwide via its indicator API (SI.RMT.COST.IB.ZS). What it costs on average to send $200 into a country, as a percentage of the amount sent. ⚠ THE TARGET IS 3%. Sustainable Development Goal 10.c sets that as the ceiling and most of the world is still above it; for the countries most dependent on money sent home, the difference between 3% and 8% is a real amount of income. ⚠ THREE NEGATIVE READINGS ARE REAL — Malawi in 2022 and 2023 and Myanmar in 2022 — and are published as such by the Bank. They happen when the official exchange rate a transfer is priced against sits far enough from the market rate that the effective fee inverts. ⚠ It is the cost of sending money IN to the country; the outbound series covers too few countries to publish. ⚠ These are not 8 published reports — see `restatedByReport`. No rank is published, so none is stored; the POSITION shown on the statistics page is derived here by ordering the score, and labelled as ours.

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