Nigeria vs South Africa: Average transaction cost of sending remittances to a specific country
Nigeria
4.6%
in 2023
South Africa
4.6%
in 2023
Nigeria rank
26th
South Africa rank
28th
Average transaction cost of sending remittances to a specific country over time
- Nigeria
- South Africa
How they compare
Nigeria currently reports 4.6% against 4.6% in South Africa, a difference of 0.0%.
The two have swapped places 1 time across 8 shared years of data; in 2016 it was South Africa ahead.
Nigeria ranks 26th and South Africa ranks 28th of 100 countries.
Nigeria has averaged higher in every one of the 2 decades both report.
Head to head by decade
| Decade | Nigeria | South Africa | Difference | Ahead |
|---|---|---|---|---|
| 2010s | 7.9% | 6.4% | 1.5% | Nigeria |
| 2020s | 5.0% | 3.8% | 1.2% | Nigeria |
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, Nigeria or South Africa?
- Nigeria, at 4.6% against 4.6% in South Africa as of 2023.
- What is the difference in average transaction cost of sending remittances to a specific country between Nigeria and South Africa?
- 0.0%, with Nigeria ahead.
- How many years of comparable data are there for Nigeria and South Africa?
- 8 years are reported by both, from 2016 to 2023.
- How do Nigeria and South Africa rank globally for average transaction cost of sending remittances to a specific country?
- Nigeria ranks 26th and South Africa ranks 28th 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.