Average transaction cost of sending remittances from a specific in Norway
Norway: Average transaction cost of sending remittances from a specific was 1.2% in 2023. ◆ Volatile
Average transaction cost of sending remittances from a specific in Norway, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances from a specific in Norway stood at 1.2%.
The figure is up 29.4% on the previous year and down 88.6% over ten years.
That places Norway 44th out of 44 countries with data for 2023, putting it in the bottom quarter.
Average transaction cost of sending remittances from a specific in Norway, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 10.2% | — |
| 2017 | 3.9% | -62.0% |
| 2018 | 4.0% | +3.9% |
| 2019 | 2.3% | -41.7% |
| 2020 | 2.1% | -11.7% |
| 2021 | 2.7% | +30.6% |
| 2022 | 0.9% | -66.8% |
| 2023 | 1.2% | +29.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 5.1% | 2.3% | 10.2% | 4 |
| 2020s | 1.7% | 0.9% | 2.7% | 4 |
Countries ranked near Norway
More financial sector data for Norway
- Net domestic credit (current LCU), per capita 1.08 million current LCU per person (2024)
- Net domestic credit (current LCU), per unit of GDP 12.01 current LCU per US$ of GDP (2024)
- Net domestic credit (current LCU), annual growth rate 3.18 % change on previous year (2024)
- Gold reserves at 35 SDRs per ounce 0 SDR (2025)
- Gold reserves at market value 0 SDR (2025)
- Reserves excluding gold, foreign exchange 55.94 billion SDR (2025)
- Reserves excluding gold 62.43 billion SDR (2025)
- Total reserves (gold at market value) 62.43 billion SDR (2025)
- Total reserves (gold at national valuation) 62.43 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 11,126 SDR per person (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Norway?
- Average transaction cost of sending remittances from a specific in Norway was 1.2% 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 Norway?
- The highest recorded value was 10.2% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Norway?
- The lowest recorded value was 0.9% in 2022.
- How does Norway rank for average transaction cost of sending remittances from a specific?
- Norway ranks 44th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Norway?
- Over the last ten years it is down 88.6%. The long-run trend across the full record is volatile.
- Where does this Norway 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.