Average transaction cost of sending remittances from a specific in Australia
Australia: Average transaction cost of sending remittances from a specific was 2.9% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Australia, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
The most recent figure for average transaction cost of sending remittances from a specific in Australia is 2.9%, measured in 2023. That is the lowest value across all 8 years on record.
The figure is down 15.9% on the previous year and down 69.4% over ten years.
That places Australia 31st out of 44 countries with data for 2023, putting it in the middle of the range.
Average transaction cost of sending remittances from a specific in Australia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 9.4% | — |
| 2017 | 4.7% | -50.2% |
| 2018 | 3.8% | -18.1% |
| 2019 | 3.8% | -1.4% |
| 2020 | 3.6% | -4.0% |
| 2021 | 4.1% | +13.4% |
| 2022 | 3.4% | -16.9% |
| 2023 | 2.9% | -15.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 5.4% | 3.8% | 9.4% | 4 |
| 2020s | 3.5% | 2.9% | 4.1% | 4 |
Countries ranked near Australia
More financial sector data for Australia
- Net domestic credit (current LCU), per capita 215,929 current LCU per person (2025)
- Net domestic credit (current LCU), per unit of GDP 3.32 current LCU per US$ of GDP (2025)
- Net domestic credit (current LCU), annual growth rate 3.66 % change on previous year (2025)
- Gold reserves at 35 SDRs per ounce 84.28 million SDR (2025)
- Gold reserves at market value 7.68 billion SDR (2025)
- Reserves excluding gold, foreign exchange 32.83 billion SDR (2025)
- Reserves excluding gold 45.36 billion SDR (2025)
- Total reserves (gold at market value) 53.04 billion SDR (2025)
- Total reserves (gold at national valuation) 53.03 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 1,921 SDR per person (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Australia?
- Average transaction cost of sending remittances from a specific in Australia was 2.9% in 2023, according to Remittance Prices Worldwide, World Bank (WB).
- What is the highest average transaction cost of sending remittances from a specific recorded in Australia?
- The highest recorded value was 9.4% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Australia?
- The lowest recorded value was 2.9% in 2023.
- How does Australia rank for average transaction cost of sending remittances from a specific?
- Australia ranks 31st out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Australia?
- Over the last ten years it is down 69.4%. The long-run trend across the full record is falling.
- Where does this Australia data come from?
- The figures come from Remittance Prices Worldwide, World Bank (WB), published as part of Average transaction cost of sending remittances from a specific country (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 8 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Average transaction cost of sending remittance from 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 from a specific country.