Average transaction cost of sending remittances from a specific in Kenya
Kenya: Average transaction cost of sending remittances from a specific was 5.3% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Kenya, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Kenya recorded 5.3% for average transaction cost of sending remittances from a specific in 2023.
The figure is up 31.0% on the previous year and down 25.1% over ten years.
That places Kenya 8th out of 44 countries with data for 2023, putting it in the top quarter.
Average transaction cost of sending remittances from a specific in Kenya, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 7.0% | — |
| 2017 | 5.9% | -16.4% |
| 2018 | 5.8% | -0.5% |
| 2019 | 6.1% | +5.0% |
| 2020 | 5.6% | -8.4% |
| 2021 | 4.8% | -15.4% |
| 2022 | 4.0% | -15.7% |
| 2023 | 5.3% | +31.0% |
Kenya compared with similar countries
- Kenya's 5.3% is below the median for lower middle income countries, which is 6.5%, 81% of the median. (6 countries reporting)
- Kenya's 5.3% is above the median for Sub-Saharan Africa, which is 5.3%, 1.0× the median. (7 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.2% | 5.8% | 7.0% | 4 |
| 2020s | 4.9% | 4.0% | 5.6% | 4 |
Countries ranked near Kenya
More financial sector data for Kenya
- 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 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0.3189 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 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.2328 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 0.0001 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0.3189 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 Kenya?
- Average transaction cost of sending remittances from a specific in Kenya was 5.3% 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 Kenya?
- The highest recorded value was 7.0% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Kenya?
- The lowest recorded value was 4.0% in 2022.
- How does Kenya rank for average transaction cost of sending remittances from a specific?
- Kenya ranks 8th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Kenya?
- Over the last ten years it is down 25.1%. The long-run trend across the full record is falling.
- Where does this Kenya 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.