Average transaction cost of sending remittances from a specific in Malaysia
Malaysia: Average transaction cost of sending remittances from a specific was 2.0% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Malaysia, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Malaysia recorded 2.0% for average transaction cost of sending remittances from a specific in 2023.
The figure is up 38.0% on the previous year and down 54.0% over ten years.
Malaysia ranks 39th of 44 countries on this measure, in the bottom quarter.
Average transaction cost of sending remittances from a specific in Malaysia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 4.5% | — |
| 2017 | 4.8% | +6.7% |
| 2018 | 4.6% | -3.8% |
| 2019 | 1.6% | -64.6% |
| 2020 | 1.9% | +18.3% |
| 2021 | 1.7% | -12.8% |
| 2022 | 1.5% | -11.1% |
| 2023 | 2.0% | +38.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.9% | 1.6% | 4.8% | 4 |
| 2020s | 1.8% | 1.5% | 2.0% | 4 |
Countries ranked near Malaysia
More financial sector data for Malaysia
- Reserve position in the IMF, US dollar, annual growth rate 5.91 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0027 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 35.78 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.8573 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.002 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 26.13 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.91 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0027 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 35.78 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.8573 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Malaysia?
- Average transaction cost of sending remittances from a specific in Malaysia was 2.0% 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 Malaysia?
- The highest recorded value was 4.8% in 2017.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Malaysia?
- The lowest recorded value was 1.5% in 2022.
- How does Malaysia rank for average transaction cost of sending remittances from a specific?
- Malaysia ranks 39th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Malaysia?
- Over the last ten years it is down 54.0%. The long-run trend across the full record is falling.
- Where does this Malaysia 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.