Average transaction cost of sending remittances to a specific country in Ecuador
Ecuador: Average transaction cost of sending remittances to a specific country was 2.3% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in Ecuador, 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 Ecuador is 2.3%, measured in 2023.
The figure is up 648.5% on the previous year and down 45.6% over ten years.
Ecuador ranks 65th of 100 countries on this measure, in the middle of the range.
Average transaction cost of sending remittances to a specific country in Ecuador, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 4.2% | — |
| 2017 | 4.0% | -4.7% |
| 2018 | 2.5% | -37.0% |
| 2019 | 3.1% | +23.3% |
| 2020 | 2.5% | -19.2% |
| 2021 | 2.5% | -1.7% |
| 2022 | 0.3% | -87.6% |
| 2023 | 2.3% | +648.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.5% | 2.5% | 4.2% | 4 |
| 2020s | 1.9% | 0.3% | 2.5% | 4 |
Countries ranked near Ecuador
More financial sector data for Ecuador
- 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 0.0003 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 2.14 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 0.0002 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 1.56 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 0.0003 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 2.14 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 Ecuador?
- Average transaction cost of sending remittances to a specific country in Ecuador was 2.3% 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 Ecuador?
- The highest recorded value was 4.2% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Ecuador?
- The lowest recorded value was 0.3% in 2022.
- How does Ecuador rank for average transaction cost of sending remittances to a specific country?
- Ecuador ranks 65th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Ecuador?
- Over the last ten years it is down 45.6%. The long-run trend across the full record is falling.
- Where does this Ecuador 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.