Average transaction cost of sending remittances from a specific in Turkey
Turkey: Average transaction cost of sending remittances from a specific was 10.0% in 2023. ▲ Rising
Average transaction cost of sending remittances from a specific in Turkey, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
The most recent figure for average transaction cost of sending remittances from a specific in Turkey is 10.0%, measured in 2023.
That represents a change of down 32.3% on the previous year and down 4.1% over ten years.
Turkey ranks 4th of 44 countries on this measure, in the top 10%.
Average transaction cost of sending remittances from a specific in Turkey, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 10.4% | — |
| 2017 | 12.2% | +18.0% |
| 2018 | 9.9% | -18.8% |
| 2019 | 10.3% | +3.4% |
| 2020 | 8.2% | -19.8% |
| 2021 | 13.4% | +63.2% |
| 2022 | 14.7% | +9.5% |
| 2023 | 10.0% | -32.3% |
Turkey compared with similar countries
- Turkey's 10.0% is above the median for upper middle income countries, which is 3.7%, 2.7× the median. (7 countries reporting)
- Turkey's 10.0% is above the median for Europe & Central Asia, which is 2.9%, 3.4× the median. (15 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 10.7% | 9.9% | 12.2% | 4 |
| 2020s | 11.6% | 8.2% | 14.7% | 4 |
Countries ranked near Turkey
More financial sector data for Turkey
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.8 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 1.31 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0001 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.8 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances from a specific in Turkey?
- Average transaction cost of sending remittances from a specific in Turkey was 10.0% 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 Turkey?
- The highest recorded value was 14.7% in 2022.
- What is the lowest average transaction cost of sending remittances from a specific recorded in Turkey?
- The lowest recorded value was 8.2% in 2020.
- How does Turkey rank for average transaction cost of sending remittances from a specific?
- Turkey ranks 4th out of 44 countries with data for 2023.
- Is average transaction cost of sending remittances from a specific rising or falling in Turkey?
- Over the last ten years it is down 4.1%. The long-run trend across the full record is rising.
- Where does this Turkey 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.