Average transaction cost of sending remittances from a specific in Senegal
Senegal: Average transaction cost of sending remittances from a specific was 1.4% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Senegal, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances from a specific in Senegal stood at 1.4%. That is the lowest value across all 8 years on record.
That represents a change of down 61.1% on the previous year and down 71.3% over ten years.
Senegal ranks 43rd of 44 countries on this measure, in the bottom quarter.
Average transaction cost of sending remittances from a specific in Senegal, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 4.8% | — |
| 2017 | 4.3% | -11.3% |
| 2018 | 3.3% | -22.7% |
| 2019 | 3.6% | +8.5% |
| 2020 | 3.4% | -4.0% |
| 2021 | 3.4% | +0.5% |
| 2022 | 3.5% | +2.9% |
| 2023 | 1.4% | -61.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 4.0% | 3.3% | 4.8% | 4 |
| 2020s | 2.9% | 1.4% | 3.5% | 4 |
Countries ranked near Senegal
More financial sector data for Senegal
- Net domestic credit (current LCU), per capita 605,208 current LCU per person (2025)
- Net domestic credit (current LCU), per unit of GDP 309.62 current LCU per US$ of GDP (2025)
- Net domestic credit (current LCU), annual growth rate 10.99 % change on previous year (2025)
- Reserve tranche position, SDR, per capita 2.25 units per person (2025)
- Reserve tranche position, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve tranche position, US dollar, per capita 3.09 units per person (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, SDR, per capita 2.25 units per person (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Senegal?
- Average transaction cost of sending remittances from a specific in Senegal was 1.4% 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 Senegal?
- The highest recorded value was 4.8% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Senegal?
- The lowest recorded value was 1.4% in 2023.
- How does Senegal rank for average transaction cost of sending remittances from a specific?
- Senegal ranks 43rd out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Senegal?
- Over the last ten years it is down 71.3%. The long-run trend across the full record is falling.
- Where does this Senegal 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.