Average transaction cost of sending remittances to a specific country in Bangladesh
Bangladesh: Average transaction cost of sending remittances to a specific country was 7.7% in 2023. ▲ Rising
Average transaction cost of sending remittances to a specific country in Bangladesh, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances to a specific country in Bangladesh stood at 7.7%. That is the highest value across all 8 years on record.
The figure is up 122.3% on the previous year and up 101.0% over ten years.
Bangladesh ranks 13th of 100 countries on this measure, in the top quarter.
Average transaction cost of sending remittances to a specific country in Bangladesh, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 3.8% | — |
| 2017 | 3.3% | -12.6% |
| 2018 | 3.6% | +9.6% |
| 2019 | 2.9% | -19.5% |
| 2020 | 3.1% | +4.2% |
| 2021 | 2.8% | -8.7% |
| 2022 | 3.4% | +23.3% |
| 2023 | 7.7% | +122.3% |
Bangladesh compared with similar countries
- Bangladesh's 7.7% is above the median for lower middle income countries, which is 3.4%, 2.3× the median. (34 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.4% | 2.9% | 3.8% | 4 |
| 2020s | 4.2% | 2.8% | 7.7% | 4 |
Countries ranked near Bangladesh
More financial sector data for Bangladesh
- Reserve position in the IMF, US dollar, annual growth rate 5.07 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0004 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.05 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.0537 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0003 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.7636 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.07 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0004 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.05 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.0537 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in Bangladesh?
- Average transaction cost of sending remittances to a specific country in Bangladesh was 7.7% 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 Bangladesh?
- The highest recorded value was 7.7% in 2023.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Bangladesh?
- The lowest recorded value was 2.8% in 2021.
- How does Bangladesh rank for average transaction cost of sending remittances to a specific country?
- Bangladesh ranks 13th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Bangladesh?
- Over the last ten years it is up 101.0%. The long-run trend across the full record is rising.
- Where does this Bangladesh 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
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 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.