Average transaction cost of sending remittances to a specific country in Armenia
Armenia: Average transaction cost of sending remittances to a specific country was 4.4% in 2023. ▲ Rising
Average transaction cost of sending remittances to a specific country in Armenia, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
The most recent figure for average transaction cost of sending remittances to a specific country in Armenia is 4.4%, measured in 2023.
The figure is up 5.4% on the previous year and up 34.8% over ten years.
Armenia ranks 29th of 100 countries on this measure, in the middle of the range.
Average transaction cost of sending remittances to a specific country in Armenia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 3.2% | — |
| 2017 | 1.9% | -40.4% |
| 2018 | 4.2% | +116.7% |
| 2019 | 4.4% | +6.1% |
| 2020 | 3.7% | -17.0% |
| 2021 | 3.0% | -17.8% |
| 2022 | 4.1% | +37.0% |
| 2023 | 4.4% | +5.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.4% | 1.9% | 4.4% | 4 |
| 2020s | 3.8% | 3.0% | 4.4% | 4 |
Countries ranked near Armenia
More financial sector data for Armenia
- 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 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0.0665 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 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.0486 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 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0.0665 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 to a specific country in Armenia?
- Average transaction cost of sending remittances to a specific country in Armenia was 4.4% in 2023, according to Remittance Prices Worldwide, World Bank (WB).
- What is the highest average transaction cost of sending remittances to a specific country recorded in Armenia?
- The highest recorded value was 4.4% in 2019.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Armenia?
- The lowest recorded value was 1.9% in 2017.
- How does Armenia rank for average transaction cost of sending remittances to a specific country?
- Armenia ranks 29th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Armenia?
- Over the last ten years it is up 34.8%. The long-run trend across the full record is rising.
- Where does this Armenia data come from?
- The figures come from Remittance Prices Worldwide, World Bank (WB), published as part of Average transaction cost of sending remittances to 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 to 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 to a specific country.