Average transaction cost of sending remittances from a specific in Belgium
Belgium: Average transaction cost of sending remittances from a specific was 3.8% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Belgium, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Belgium recorded 3.8% for average transaction cost of sending remittances from a specific in 2023. That is the lowest value across all 8 years on record.
The figure is down 40.2% on the previous year and down 55.2% over ten years.
Belgium ranks 19th of 44 countries on this measure, in the middle of the range.
Average transaction cost of sending remittances from a specific in Belgium, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 8.5% | — |
| 2017 | 6.3% | -25.6% |
| 2018 | 6.0% | -4.6% |
| 2019 | 6.1% | +1.5% |
| 2020 | 6.1% | +0.2% |
| 2021 | 5.3% | -13.7% |
| 2022 | 6.4% | +20.2% |
| 2023 | 3.8% | -40.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.7% | 6.0% | 8.5% | 4 |
| 2020s | 5.4% | 3.8% | 6.4% | 4 |
Countries ranked near Belgium
- 16 Switzerland 4.1% compare
- 17 New Zealand 3.9% compare
- 18 Bahrain 3.8% compare
- 20 South Africa 3.7% compare
- 21 Thailand 3.6% compare
- 22 United Kingdom of Great Britain and Northern Ireland 3.6% compare
More financial sector data for Belgium
- Reserve position in the IMF, US dollar, annual growth rate 13.78 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0032 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 193.33 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 8.35 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0023 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 141.16 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 13.78 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0032 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 193.33 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 8.35 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Belgium?
- Average transaction cost of sending remittances from a specific in Belgium was 3.8% 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 Belgium?
- The highest recorded value was 8.5% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Belgium?
- The lowest recorded value was 3.8% in 2023.
- How does Belgium rank for average transaction cost of sending remittances from a specific?
- Belgium ranks 19th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Belgium?
- Over the last ten years it is down 55.2%. The long-run trend across the full record is falling.
- Where does this Belgium 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.