Average transaction cost of sending remittances to a specific country in China
China: Average transaction cost of sending remittances to a specific country was 2.8% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in China, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
China recorded 2.8% for average transaction cost of sending remittances to a specific country in 2023. That is the lowest value across all 8 years on record.
That represents a change of down 9.0% on the previous year and down 73.7% over ten years.
That places China 52nd out of 100 countries with data for 2023, putting it in the middle of the range.
Average transaction cost of sending remittances to a specific country in China, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 10.8% | — |
| 2017 | 7.3% | -31.8% |
| 2018 | 5.3% | -28.4% |
| 2019 | 5.1% | -2.3% |
| 2020 | 4.4% | -14.2% |
| 2021 | 3.3% | -25.4% |
| 2022 | 3.1% | -5.3% |
| 2023 | 2.8% | -9.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 7.1% | 5.1% | 10.8% | 4 |
| 2020s | 3.4% | 2.8% | 4.4% | 4 |
Countries ranked near China
More financial sector data for China
- Reserve position in the IMF, US dollar, annual growth rate 14.56 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 7.95 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 9.09 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0004 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 5.8 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 14.56 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 7.95 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 9.09 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in China?
- Average transaction cost of sending remittances to a specific country in China was 2.8% 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 China?
- The highest recorded value was 10.8% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in China?
- The lowest recorded value was 2.8% in 2023.
- How does China rank for average transaction cost of sending remittances to a specific country?
- China ranks 52nd out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in China?
- Over the last ten years it is down 73.7%. The long-run trend across the full record is falling.
- Where does this China 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.