Average transaction cost of sending remittances to a specific country in Hungary
Hungary: Average transaction cost of sending remittances to a specific country was 1.6% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in Hungary, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Hungary recorded 1.6% for average transaction cost of sending remittances to a specific country in 2023.
The figure is down 12.0% on the previous year and down 80.8% over ten years.
That places Hungary 87th out of 100 countries with data for 2023, putting it in the bottom quarter.
Average transaction cost of sending remittances to a specific country in Hungary, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 8.4% | — |
| 2017 | 2.6% | -68.9% |
| 2018 | 1.7% | -35.8% |
| 2019 | 1.5% | -10.5% |
| 2020 | 2.1% | +42.3% |
| 2021 | 2.0% | -4.5% |
| 2022 | 1.8% | -10.0% |
| 2023 | 1.6% | -12.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.5% | 1.5% | 8.4% | 4 |
| 2020s | 1.9% | 1.6% | 2.1% | 4 |
Countries ranked near Hungary
More financial sector data for Hungary
- 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 0.0017 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 43.35 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 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 31.66 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 0.0017 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 43.35 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 Hungary?
- Average transaction cost of sending remittances to a specific country in Hungary was 1.6% 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 Hungary?
- The highest recorded value was 8.4% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Hungary?
- The lowest recorded value was 1.5% in 2019.
- How does Hungary rank for average transaction cost of sending remittances to a specific country?
- Hungary ranks 87th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Hungary?
- Over the last ten years it is down 80.8%. The long-run trend across the full record is volatile.
- Where does this Hungary 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.