Average transaction cost of sending remittances to a specific country in Eritrea
Eritrea: Average transaction cost of sending remittances to a specific country was 9.2% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in Eritrea, 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 Eritrea is 9.2%, measured in 2023.
That represents a change of down 2.4% on the previous year and up 23.9% over ten years.
That places Eritrea 6th 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 Eritrea, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 7.4% | — |
| 2017 | 13.6% | +84.4% |
| 2019 | 11.6% | -14.6% |
| 2020 | 7.8% | -33.4% |
| 2021 | 4.6% | -40.8% |
| 2022 | 9.4% | +104.6% |
| 2023 | 9.2% | -2.4% |
Eritrea compared with similar countries
- Eritrea's 9.2% is above the median for low income countries, which is 5.8%, 1.6× the median. (15 countries reporting)
- Eritrea's 9.2% is above the median for Sub-Saharan Africa, which is 3.8%, 2.4× the median. (31 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 10.9% | 7.4% | 13.6% | 3 |
| 2020s | 7.7% | 4.6% | 9.4% | 4 |
Countries ranked near Eritrea
- 3 Sierra Leone 10.3% compare
- 4 Tajikistan 10.3% compare
- 5 Vanuatu 9.5% compare
- 7 Afghanistan 9.0% compare
- 8 Uganda 8.9% compare
- 9 Botswana 8.4% compare
More financial sector data for Eritrea
- 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 units per US$ of GDP (2011)
- Reserve position in the IMF, US dollar, per capita 0.0019 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 units per US$ of GDP (2011)
- Reserve position in the IMF, SDR, per capita 0.0014 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 units per US$ of GDP (2011)
- Reserve tranche position, US dollar, per capita 0.0019 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 Eritrea?
- Average transaction cost of sending remittances to a specific country in Eritrea was 9.2% 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 Eritrea?
- The highest recorded value was 13.6% in 2017.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Eritrea?
- The lowest recorded value was 4.6% in 2021.
- How does Eritrea rank for average transaction cost of sending remittances to a specific country?
- Eritrea ranks 6th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Eritrea?
- Over the last ten years it is up 23.9%. The long-run trend across the full record is falling.
- Where does this Eritrea 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.