Average transaction cost of sending remittances from a specific in Saudi Arabia
Saudi Arabia: Average transaction cost of sending remittances from a specific was 4.5% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Saudi Arabia, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances from a specific in Saudi Arabia stood at 4.5%.
The figure is up 280.3% on the previous year and down 0.6% over ten years.
That places Saudi Arabia 12th out of 44 countries with data for 2023, putting it in the middle of the range.
Average transaction cost of sending remittances from a specific in Saudi Arabia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 4.5% | — |
| 2017 | 5.2% | +14.3% |
| 2018 | 5.6% | +7.0% |
| 2019 | 4.6% | -16.3% |
| 2020 | 4.8% | +3.7% |
| 2021 | 4.3% | -11.6% |
| 2022 | 1.2% | -72.1% |
| 2023 | 4.5% | +280.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 5.0% | 4.5% | 5.6% | 4 |
| 2020s | 3.7% | 1.2% | 4.8% | 4 |
Countries ranked near Saudi Arabia
More financial sector data for Saudi Arabia
- Reserve position in the IMF, US dollar, annual growth rate 6.5 % 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 93.38 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 1.42 % 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 68.19 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 6.5 % 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 93.38 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 1.42 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Saudi Arabia?
- Average transaction cost of sending remittances from a specific in Saudi Arabia was 4.5% 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 Saudi Arabia?
- The highest recorded value was 5.6% in 2018.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Saudi Arabia?
- The lowest recorded value was 1.2% in 2022.
- How does Saudi Arabia rank for average transaction cost of sending remittances from a specific?
- Saudi Arabia ranks 12th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Saudi Arabia?
- Over the last ten years it is down 0.6%. The long-run trend across the full record is falling.
- Where does this Saudi Arabia 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.