Average transaction cost of sending remittances from a specific in Oman
Oman: Average transaction cost of sending remittances from a specific was 4.4% in 2023. ▲ Rising
Average transaction cost of sending remittances from a specific in Oman, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances from a specific in Oman stood at 4.4%.
The figure is up 13.2% on the previous year and up 22.9% over ten years.
Oman ranks 13th of 44 countries on this measure, in the middle of the range.
Average transaction cost of sending remittances from a specific in Oman, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 3.6% | — |
| 2018 | 4.2% | +15.1% |
| 2019 | 3.6% | -14.1% |
| 2020 | 3.8% | +5.7% |
| 2021 | 5.1% | +34.2% |
| 2022 | 3.9% | -22.5% |
| 2023 | 4.4% | +13.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.8% | 3.6% | 4.2% | 3 |
| 2020s | 4.3% | 3.8% | 5.1% | 4 |
Countries ranked near Oman
- 10 Sweden 4.9% compare
- 11 Brazil 4.6% compare
- 12 Saudi Arabia 4.5% compare
- 14 Qatar 4.3% compare
- 15 Republic of Korea 4.2% compare
- 16 Switzerland 4.1% compare
More financial sector data for Oman
- Net domestic credit (current LCU), per capita 5,319 current LCU per person (2024)
- Net domestic credit (current LCU), per unit of GDP 0.2622 current LCU per US$ of GDP (2024)
- Net domestic credit (current LCU), annual growth rate 6.07 % change on previous year (2024)
- Gold reserves at 35 SDRs per ounce 7.57 million SDR (2024)
- Gold reserves at market value 432.74 million SDR (2024)
- Reserves excluding gold, foreign exchange 12.71 billion SDR (2024)
- Reserves excluding gold 13.59 billion SDR (2024)
- Total reserves (gold at market value) 14.02 billion SDR (2024)
- Total reserves (gold at national valuation) 14.06 billion SDR (2024)
- Total reserves (gold at national valuation) (SDR), per capita 2,661 SDR per person (2024)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Oman?
- Average transaction cost of sending remittances from a specific in Oman was 4.4% 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 Oman?
- The highest recorded value was 5.1% in 2021.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Oman?
- The lowest recorded value was 3.6% in 2019.
- How does Oman rank for average transaction cost of sending remittances from a specific?
- Oman ranks 13th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Oman?
- Over the last ten years it is up 22.9%. The long-run trend across the full record is rising.
- Where does this Oman 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.