Average transaction cost of sending remittances from a specific in Spain
Spain: Average transaction cost of sending remittances from a specific was 2.2% in 2023. ◆ Volatile
Average transaction cost of sending remittances from a specific in Spain, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Spain recorded 2.2% for average transaction cost of sending remittances from a specific in 2023.
That represents a change of down 1.9% on the previous year and down 68.7% over ten years.
That places Spain 36th out of 44 countries with data for 2023, putting it in the bottom quarter.
Average transaction cost of sending remittances from a specific in Spain, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 7.1% | — |
| 2017 | 6.6% | -8.0% |
| 2018 | 3.5% | -46.9% |
| 2019 | 3.1% | -12.5% |
| 2020 | 1.8% | -41.9% |
| 2021 | 2.3% | +32.4% |
| 2022 | 2.3% | -3.0% |
| 2023 | 2.2% | -1.9% |
Spain compared with similar countries
- Spain's 2.2% is below the median for high income countries, which is 3.0%, 74% of the median. (30 countries reporting)
- Spain's 2.2% is below the median for Europe & Central Asia, which is 2.9%, 77% of the median. (15 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 5.1% | 3.1% | 7.1% | 4 |
| 2020s | 2.2% | 1.8% | 2.3% | 4 |
Countries ranked near Spain
More financial sector data for Spain
- Reserve position in the IMF, US dollar, annual growth rate 13.53 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 69.18 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 8.11 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0013 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 50.52 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 13.53 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 69.18 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 8.11 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Spain?
- Average transaction cost of sending remittances from a specific in Spain was 2.2% 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 Spain?
- The highest recorded value was 7.1% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Spain?
- The lowest recorded value was 1.8% in 2020.
- How does Spain rank for average transaction cost of sending remittances from a specific?
- Spain ranks 36th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Spain?
- Over the last ten years it is down 68.7%. The long-run trend across the full record is volatile.
- Where does this Spain 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.