Average transaction cost of sending remittances to a specific country in Dominican Republic
Dominican Republic: Average transaction cost of sending remittances to a specific country was 2.5% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in Dominican Republic, 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 Dominican Republic is 2.5%, measured in 2023.
Compared with earlier readings it is up 31.8% on the previous year and down 67.6% over ten years.
That places Dominican Republic 58th 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 Dominican Republic, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 7.8% | — |
| 2017 | 6.1% | -22.1% |
| 2018 | 4.7% | -22.5% |
| 2019 | 1.8% | -61.4% |
| 2020 | 2.2% | +24.0% |
| 2021 | 1.6% | -30.2% |
| 2022 | 1.9% | +21.8% |
| 2023 | 2.5% | +31.8% |
Dominican Republic compared with similar countries
- Dominican Republic's 2.5% is below the median for upper middle income countries, which is 2.6%, 99% of the median. (39 countries reporting)
- Dominican Republic's 2.5% is below the median for Latin America & Caribbean, which is 2.6%, 97% of the median. (18 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 5.1% | 1.8% | 7.8% | 4 |
| 2020s | 2.1% | 1.6% | 2.5% | 4 |
Countries ranked near Dominican Republic
More financial sector data for Dominican Republic
- 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 0.0007 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 7.68 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 0.0005 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 5.61 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 0.0007 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 7.68 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 Dominican Republic?
- Average transaction cost of sending remittances to a specific country in Dominican Republic was 2.5% 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 Dominican Republic?
- The highest recorded value was 7.8% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Dominican Republic?
- The lowest recorded value was 1.6% in 2021.
- How does Dominican Republic rank for average transaction cost of sending remittances to a specific country?
- Dominican Republic ranks 58th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Dominican Republic?
- Over the last ten years it is down 67.6%. The long-run trend across the full record is volatile.
- Where does this Dominican Republic 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.