Average transaction cost of sending remittances to a specific country in Lao People's Democratic Republic
Lao People's Democratic Republic: Average transaction cost of sending remittances to a specific country was 4.9% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in Lao People's Democratic Republic, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Lao People's Democratic Republic recorded 4.9% for average transaction cost of sending remittances to a specific country in 2023.
Compared with earlier readings it is up 1.8% on the previous year and down 65.9% over ten years.
Lao People's Democratic Republic ranks 23rd of 100 countries on this measure, in the top quarter.
Average transaction cost of sending remittances to a specific country in Lao People's Democratic Republic, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 14.3% | — |
| 2017 | 4.5% | -68.3% |
| 2018 | 3.5% | -23.8% |
| 2019 | 2.4% | -31.3% |
| 2020 | 3.6% | +50.5% |
| 2021 | 3.9% | +8.3% |
| 2022 | 4.8% | +23.6% |
| 2023 | 4.9% | +1.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.2% | 2.4% | 14.3% | 4 |
| 2020s | 4.3% | 3.6% | 4.9% | 4 |
Countries ranked near Lao People's Democratic Republic
More financial sector data for Lao People's Democratic Republic
- 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 0.001 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 2.3 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 0.0007 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 1.68 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 0.001 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 2.3 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 Lao People's Democratic Republic?
- Average transaction cost of sending remittances to a specific country in Lao People's Democratic Republic was 4.9% 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 Lao People's Democratic Republic?
- The highest recorded value was 14.3% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Lao People's Democratic Republic?
- The lowest recorded value was 2.4% in 2019.
- How does Lao People's Democratic Republic rank for average transaction cost of sending remittances to a specific country?
- Lao People's Democratic Republic ranks 23rd out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Lao People's Democratic Republic?
- Over the last ten years it is down 65.9%. The long-run trend across the full record is volatile.
- Where does this Lao People's Democratic Republic 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
CSV · JSON — 8 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.