Average transaction cost of sending remittances from a specific in Dominican Republic
Dominican Republic: Average transaction cost of sending remittances from a specific was 7.4% in 2023. ▲ Rising
Average transaction cost of sending remittances from a specific in Dominican Republic, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances from a specific in Dominican Republic stood at 7.4%.
That represents a change of down 30.9% on the previous year and up 52.7% over ten years.
Dominican Republic ranks 7th of 44 countries on this measure, in the top quarter.
Average transaction cost of sending remittances from a specific in Dominican Republic, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 4.9% | — |
| 2017 | 8.5% | +75.8% |
| 2018 | 6.3% | -25.8% |
| 2019 | 6.4% | +1.6% |
| 2020 | 10.7% | +65.7% |
| 2021 | 3.6% | -66.7% |
| 2022 | 10.7% | +202.2% |
| 2023 | 7.4% | -30.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.6% | 4.9% | 8.5% | 4 |
| 2020s | 8.1% | 3.6% | 10.7% | 4 |
Countries ranked near Dominican Republic
More financial sector data for Dominican Republic
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0007 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 7.68 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0005 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 5.61 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0007 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 7.68 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Dominican Republic?
- Average transaction cost of sending remittances from a specific in Dominican Republic was 7.4% 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 Dominican Republic?
- The highest recorded value was 10.7% in 2022.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Dominican Republic?
- The lowest recorded value was 3.6% in 2021.
- How does Dominican Republic rank for average transaction cost of sending remittances from a specific?
- Dominican Republic ranks 7th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Dominican Republic?
- Over the last ten years it is up 52.7%. The long-run trend across the full record is rising.
- Where does this Dominican Republic 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.