Colombia vs Panama: Average transaction cost of sending remittances to a specific country
Colombia
2.4%
in 2023
Panama
2.5%
in 2023
Colombia rank
61st
Panama rank
59th
Average transaction cost of sending remittances to a specific country over time
- Colombia
- Panama
How they compare
Panama currently reports 2.5% against 2.4% in Colombia, a difference of 0.1%.
The two have swapped places 3 times across 8 shared years of data; in 2016 it was Colombia ahead.
Colombia ranks 61st and Panama ranks 59th of 100 countries.
Colombia has averaged higher in every one of the 2 decades both report.
Head to head by decade
| Decade | Colombia | Panama | Difference | Ahead |
|---|---|---|---|---|
| 2010s | 4.5% | 4.2% | 0.2% | Colombia |
| 2020s | 2.4% | 2.3% | 0.0% | Colombia |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher average transaction cost of sending remittances to a specific country, Colombia or Panama?
- Panama, at 2.5% against 2.4% in Colombia as of 2023.
- What is the difference in average transaction cost of sending remittances to a specific country between Colombia and Panama?
- 0.1%, with Panama ahead.
- How many years of comparable data are there for Colombia and Panama?
- 8 years are reported by both, from 2016 to 2023.
- How do Colombia and Panama rank globally for average transaction cost of sending remittances to a specific country?
- Colombia ranks 61st and Panama ranks 59th of 100 countries.
- Where does this data come from?
- Remittance Prices Worldwide, World Bank (WB), published as Average transaction cost of sending remittances to a specific country (%). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
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.