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% |
Norway compared with similar countries
- Norway's 1.2% is below the median for high income countries, which is 3.0%, 38% of the median. (30 countries reporting)
- Norway's 1.2% is below the median for Europe & Central Asia, which is 2.9%, 40% of the median. (15 countries reporting)
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
- Reserve position in the IMF, US dollar, annual growth rate 7.97 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0026 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 242.26 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 2.82 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0019 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 176.9 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 7.97 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0026 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 242.26 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 2.82 % change on previous year (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
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.