Average transaction cost of sending remittances to a specific country in El Salvador
El Salvador: Average transaction cost of sending remittances to a specific country was 2.0% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in El Salvador, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
El Salvador recorded 2.0% for average transaction cost of sending remittances to a specific country in 2023.
Compared with earlier readings it is down 55.5% over ten years.
El Salvador ranks 77th of 100 countries on this measure, in the bottom quarter.
Average transaction cost of sending remittances to a specific country in El Salvador, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 4.5% | — |
| 2017 | 4.5% | -0.0% |
| 2018 | 2.5% | -44.5% |
| 2019 | 3.0% | +20.0% |
| 2020 | 0.0% | -100.0% |
| 2021 | 1.9% | — |
| 2022 | 0.0% | -100.0% |
| 2023 | 2.0% | — |
El Salvador compared with similar countries
- El Salvador's 2.0% is below the median for upper middle income countries, which is 2.6%, 78% of the median. (39 countries reporting)
- El Salvador's 2.0% is below the median for Latin America & Caribbean, which is 2.6%, 77% of the median. (18 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.6% | 2.5% | 4.5% | 4 |
| 2020s | 1.0% | 0.0% | 2.0% | 4 |
Countries ranked near El Salvador
- 74 Thailand 2.0% compare
- 75 Republic of Moldova 2.0% compare
- 76 Ghana 2.0% compare
- 78 Congo, Democratic Republic of the 2.0% compare
- 79 Palestine, State of 2.0% compare
- 80 Serbia 1.9% compare
More financial sector data for El Salvador
- Reserve position in the IMF, US dollar, annual growth rate -100 % change on previous year (1980)
- Reserve position in the IMF, US dollar, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate -100 % change on previous year (1980)
- Reserve position in the IMF, SDR, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate -100 % change on previous year (1980)
- Reserve tranche position, US dollar, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0 units per person (2025)
- Reserve tranche position, SDR, annual growth rate -100 % change on previous year (1980)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in El Salvador?
- Average transaction cost of sending remittances to a specific country in El Salvador was 2.0% 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 El Salvador?
- The highest recorded value was 4.5% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in El Salvador?
- The lowest recorded value was 0.0% in 2020.
- How does El Salvador rank for average transaction cost of sending remittances to a specific country?
- El Salvador ranks 77th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in El Salvador?
- Over the last ten years it is down 55.5%. The long-run trend across the full record is volatile.
- Where does this El Salvador 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.