Average transaction cost of sending remittances to a specific country in Latvia
Latvia: Average transaction cost of sending remittances to a specific country was 2.1% in 2021. ▼ Falling
Average transaction cost of sending remittances to a specific country in Latvia, 2016–2021
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 Latvia is 2.1%, measured in 2021.
The figure is down 43.3% on the previous year and down 56.0% over ten years.
That places Latvia 72nd out of 100 countries with data for 2021, putting it in the middle of the range.
Average transaction cost of sending remittances to a specific country in Latvia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 4.7% | — |
| 2017 | 6.5% | +37.6% |
| 2018 | 4.0% | -38.6% |
| 2019 | 1.8% | -54.1% |
| 2020 | 3.7% | +100.0% |
| 2021 | 2.1% | -43.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 4.3% | 1.8% | 6.5% | 4 |
| 2020s | 2.9% | 2.1% | 3.7% | 2 |
Countries ranked near Latvia
- 69 Cambodia 2.1% compare
- 70 North Macedonia 2.1% compare
- 71 Uzbekistan 2.1% compare
- 73 Togo 2.1% compare
- 74 Thailand 2.0% compare
- 75 Republic of Moldova 2.0% compare
More financial sector data for Latvia
- Reserve position in the IMF, US dollar, annual growth rate 68.5 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 43.27 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 60.46 % 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 31.6 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 68.5 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 43.27 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 60.46 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in Latvia?
- Average transaction cost of sending remittances to a specific country in Latvia was 2.1% in 2021, according to Remittance Prices Worldwide, World Bank (WB).
- What is the highest average transaction cost of sending remittances to a specific country recorded in Latvia?
- The highest recorded value was 6.5% in 2017.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Latvia?
- The lowest recorded value was 1.8% in 2019.
- How does Latvia rank for average transaction cost of sending remittances to a specific country?
- Latvia ranks 72nd out of 100 countries with data for 2021.
- Is average transaction cost of sending remittances to a specific country rising or falling in Latvia?
- Over the last ten years it is down 56.0%. The long-run trend across the full record is falling.
- Where does this Latvia 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.