Average transaction cost of sending remittances from a specific in Cameroon
Cameroon: Average transaction cost of sending remittances from a specific was 11.7% in 2023. ▲ Rising
Average transaction cost of sending remittances from a specific in Cameroon, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances from a specific in Cameroon stood at 11.7%.
That represents a change of up 17.4% on the previous year and up 68.5% over ten years.
Cameroon ranks 3rd of 44 countries on this measure, in the top 10%.
Average transaction cost of sending remittances from a specific in Cameroon, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 6.9% | — |
| 2018 | 14.6% | +110.4% |
| 2019 | 9.7% | -33.4% |
| 2020 | 16.0% | +64.9% |
| 2021 | 14.7% | -8.0% |
| 2022 | 9.9% | -32.5% |
| 2023 | 11.7% | +17.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 10.4% | 6.9% | 14.6% | 3 |
| 2020s | 13.1% | 9.9% | 16.0% | 4 |
Countries ranked near Cameroon
More financial sector data for Cameroon
- Net domestic credit (current LCU), per capita 172,365 current LCU per person (2019)
- Net domestic credit (current LCU), per unit of GDP 110.83 current LCU per US$ of GDP (2019)
- Net domestic credit (current LCU), annual growth rate 6.79 % change on previous year (2019)
- Gold reserves at 35 SDRs per ounce 0 SDR (2022)
- Gold reserves at market value 0 SDR (2022)
- Reserves excluding gold, foreign exchange 3.86 billion SDR (2024)
- Reserves excluding gold 3.88 billion SDR (2024)
- Total reserves (gold at market value) 3.88 billion SDR (2024)
- Total reserves (gold at national valuation) 3.94 billion SDR (2024)
- Total reserves (gold at national valuation) (SDR), per capita 135.33 SDR per person (2024)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Cameroon?
- Average transaction cost of sending remittances from a specific in Cameroon was 11.7% 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 Cameroon?
- The highest recorded value was 16.0% in 2020.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Cameroon?
- The lowest recorded value was 6.9% in 2016.
- How does Cameroon rank for average transaction cost of sending remittances from a specific?
- Cameroon ranks 3rd out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Cameroon?
- Over the last ten years it is up 68.5%. The long-run trend across the full record is rising.
- Where does this Cameroon 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.
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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.