Average transaction cost of sending remittances to a specific country in Cuba
Cuba: Average transaction cost of sending remittances to a specific country was 19.6% in 2023. ▲ Rising
Average transaction cost of sending remittances to a specific country in Cuba, 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 Cuba is 19.6%, measured in 2023. That is the highest value across all 7 years on record.
Compared with earlier readings it is up 15.2% on the previous year and up 202.0% over ten years.
That places Cuba 1st out of 100 countries with data for 2023, putting it in the top 10%.
Average transaction cost of sending remittances to a specific country in Cuba, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 6.5% | — |
| 2018 | 7.7% | +17.9% |
| 2019 | 6.4% | -16.4% |
| 2020 | 10.5% | +64.3% |
| 2021 | 10.6% | +0.4% |
| 2022 | 17.0% | +61.1% |
| 2023 | 19.6% | +15.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.9% | 6.4% | 7.7% | 3 |
| 2020s | 14.4% | 10.5% | 19.6% | 4 |
Countries ranked near Cuba
- 2 Angola 12.8% compare
- 3 Sierra Leone 10.3% compare
- 4 Tajikistan 10.3% compare
More financial sector data for Cuba
- Reserve position in the IMF, US dollar, annual growth rate -100 % change on previous year (1957)
- Reserve position in the IMF, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- Reserve position in the IMF, US dollar, per capita 0 units per person (2016)
- Reserve position in the IMF, SDR, annual growth rate -100 % change on previous year (1957)
- Reserve position in the IMF, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- Reserve position in the IMF, SDR, per capita 0 units per person (2016)
- Reserve tranche position, US dollar, annual growth rate -100 % change on previous year (1957)
- Reserve tranche position, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- Reserve tranche position, US dollar, per capita 0 units per person (2016)
- Reserve tranche position, SDR, annual growth rate -100 % change on previous year (1957)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in Cuba?
- Average transaction cost of sending remittances to a specific country in Cuba was 19.6% 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 Cuba?
- The highest recorded value was 19.6% in 2023.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Cuba?
- The lowest recorded value was 6.4% in 2019.
- How does Cuba rank for average transaction cost of sending remittances to a specific country?
- Cuba ranks 1st out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Cuba?
- Over the last ten years it is up 202.0%. The long-run trend across the full record is rising.
- Where does this Cuba 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.