Average transaction cost of sending remittances from a specific in Thailand
Thailand: Average transaction cost of sending remittances from a specific was 3.6% in 2023. ▼ Falling
Average transaction cost of sending remittances from a specific in Thailand, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances from a specific in Thailand stood at 3.6%. That is the lowest value across all 8 years on record.
Compared with earlier readings it is down 45.0% on the previous year and down 66.0% over ten years.
Thailand ranks 21st of 44 countries on this measure, in the middle of the range.
Average transaction cost of sending remittances from a specific in Thailand, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 10.6% | — |
| 2017 | 10.4% | -1.6% |
| 2018 | 8.9% | -14.4% |
| 2019 | 4.8% | -46.8% |
| 2020 | 5.1% | +6.6% |
| 2021 | 4.8% | -6.2% |
| 2022 | 6.6% | +38.1% |
| 2023 | 3.6% | -45.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 8.7% | 4.8% | 10.6% | 4 |
| 2020s | 5.0% | 3.6% | 6.6% | 4 |
Countries ranked near Thailand
- 18 Bahrain 3.8% compare
- 19 Belgium 3.8% compare
- 20 South Africa 3.7% compare
- 22 United Kingdom of Great Britain and Northern Ireland 3.6% compare
- 23 United States of America 3.5% compare
- 24 United Arab Emirates 3.1% compare
More financial sector data for Thailand
- Reserve position in the IMF, US dollar, annual growth rate 8.39 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.002 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 16.06 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 3.21 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 11.73 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 8.39 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.002 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 16.06 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 3.21 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Thailand?
- Average transaction cost of sending remittances from a specific in Thailand was 3.6% 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 Thailand?
- The highest recorded value was 10.6% in 2016.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Thailand?
- The lowest recorded value was 3.6% in 2023.
- How does Thailand rank for average transaction cost of sending remittances from a specific?
- Thailand ranks 21st out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Thailand?
- Over the last ten years it is down 66.0%. The long-run trend across the full record is falling.
- Where does this Thailand 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.