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% |
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
- Net domestic credit (current LCU), per capita 20,139 current LCU per person (2014)
- Net domestic credit (current LCU), per unit of GDP 20.18 current LCU per US$ of GDP (2011)
- Net domestic credit (current LCU), annual growth rate 11.16 % change on previous year (2014)
- Gold reserves at 35 SDRs per ounce 0 SDR (2019)
- Gold reserves at market value 0 SDR (2019)
- Reserves excluding gold, foreign exchange 135.20 million SDR (2019)
- Reserves excluding gold 138.62 million SDR (2019)
- Total reserves (gold at market value) 138.62 million SDR (2019)
- Total reserves (gold at national valuation) 138.62 million SDR (2019)
- Total reserves (gold at national valuation) (SDR), per capita 42.78 SDR per person (2019)
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.
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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.