Average transaction cost of sending remittances from a specific in Kuwait
Kuwait: Average transaction cost of sending remittances from a specific was 2.4% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Kuwait, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Kuwait recorded 2.4% for average transaction cost of sending remittances from a specific in 2023.
That represents a change of down 2.3% on the previous year and down 17.4% over ten years.
Kuwait ranks 34th of 44 countries on this measure, in the bottom quarter.
Average transaction cost of sending remittances from a specific in Kuwait, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 2.9% | — |
| 2017 | 2.4% | -16.6% |
| 2018 | 2.8% | +13.7% |
| 2019 | 2.0% | -27.8% |
| 2020 | 2.6% | +31.4% |
| 2021 | 2.5% | -5.7% |
| 2022 | 2.5% | -0.3% |
| 2023 | 2.4% | -2.3% |
Kuwait compared with similar countries
- Kuwait's 2.4% is below the median for high income countries, which is 3.0%, 80% of the median. (30 countries reporting)
- Kuwait's 2.4% is below the median for Middle East, North Africa, Afghanistan & Pakistan, which is 4.3%, 56% of the median. (9 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 2.5% | 2.0% | 2.9% | 4 |
| 2020s | 2.5% | 2.4% | 2.6% | 4 |
Countries ranked near Kuwait
More financial sector data for Kuwait
- Reserve position in the IMF, US dollar, annual growth rate 11.16 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0044 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 142.41 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 5.86 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0032 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 103.99 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 11.16 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0044 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 142.41 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 5.86 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Kuwait?
- Average transaction cost of sending remittances from a specific in Kuwait was 2.4% 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 Kuwait?
- The highest recorded value was 2.9% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Kuwait?
- The lowest recorded value was 2.0% in 2019.
- How does Kuwait rank for average transaction cost of sending remittances from a specific?
- Kuwait ranks 34th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Kuwait?
- Over the last ten years it is down 17.4%. The long-run trend across the full record is falling.
- Where does this Kuwait 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
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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.