Average transaction cost of sending remittances to a specific country in Azerbaijan
Azerbaijan: Average transaction cost of sending remittances to a specific country was 1.3% in 2021. ▼ Falling
Average transaction cost of sending remittances to a specific country in Azerbaijan, 2016–2021
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2021, average transaction cost of sending remittances to a specific country in Azerbaijan stood at 1.3%.
The figure is up 33.8% on the previous year and down 4.6% over ten years.
That places Azerbaijan 89th out of 100 countries with data for 2021, putting it in the bottom quarter.
Average transaction cost of sending remittances to a specific country in Azerbaijan, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 1.4% | — |
| 2017 | 1.0% | -25.4% |
| 2018 | 1.4% | +38.1% |
| 2019 | 1.0% | -30.5% |
| 2020 | 1.0% | -0.3% |
| 2021 | 1.3% | +33.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 1.2% | 1.0% | 1.4% | 4 |
| 2020s | 1.2% | 1.0% | 1.3% | 2 |
Countries ranked near Azerbaijan
More financial sector data for Azerbaijan
- 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 0.001 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 7.73 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 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 5.64 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 0.001 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 7.73 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 Azerbaijan?
- Average transaction cost of sending remittances to a specific country in Azerbaijan was 1.3% in 2021, according to Remittance Prices Worldwide, World Bank (WB).
- What is the highest average transaction cost of sending remittances to a specific country recorded in Azerbaijan?
- The highest recorded value was 1.4% in 2018.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Azerbaijan?
- The lowest recorded value was 1.0% in 2020.
- How does Azerbaijan rank for average transaction cost of sending remittances to a specific country?
- Azerbaijan ranks 89th out of 100 countries with data for 2021.
- Is average transaction cost of sending remittances to a specific country rising or falling in Azerbaijan?
- Over the last ten years it is down 4.6%. The long-run trend across the full record is falling.
- Where does this Azerbaijan 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.
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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.