Average transaction cost of sending remittances to a specific country in Gambia
Gambia: Average transaction cost of sending remittances to a specific country was 6.8% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in Gambia, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Gambia recorded 6.8% for average transaction cost of sending remittances to a specific country in 2023.
The figure is up 22.2% on the previous year and down 50.4% over ten years.
Gambia ranks 14th of 100 countries on this measure, in the top quarter.
Average transaction cost of sending remittances to a specific country in Gambia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 13.6% | — |
| 2017 | 6.1% | -55.3% |
| 2018 | 6.1% | -0.0% |
| 2019 | 6.4% | +4.3% |
| 2020 | 1.7% | -73.3% |
| 2021 | 7.3% | +327.1% |
| 2022 | 5.5% | -23.8% |
| 2023 | 6.8% | +22.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 8.1% | 6.1% | 13.6% | 4 |
| 2020s | 5.3% | 1.7% | 7.3% | 4 |
Countries ranked near Gambia
More financial sector data for Gambia
- 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 0.0049 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 4.54 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 0.0036 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 3.31 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 0.0049 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 4.54 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 Gambia?
- Average transaction cost of sending remittances to a specific country in Gambia was 6.8% 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 Gambia?
- The highest recorded value was 13.6% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Gambia?
- The lowest recorded value was 1.7% in 2020.
- How does Gambia rank for average transaction cost of sending remittances to a specific country?
- Gambia ranks 14th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Gambia?
- Over the last ten years it is down 50.4%. The long-run trend across the full record is falling.
- Where does this Gambia 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.