Average transaction cost of sending remittances to a specific country in Malawi
Malawi: Average transaction cost of sending remittances to a specific country was -49.7% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in Malawi, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Malawi recorded -49.7% for average transaction cost of sending remittances to a specific country in 2023. That is the lowest value across all 8 years on record.
The figure is down 373.6% on the previous year and down 451.0% over ten years.
That places Malawi 100th 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 Malawi, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 14.2% | — |
| 2017 | 12.2% | -14.0% |
| 2018 | 11.2% | -8.1% |
| 2019 | 15.7% | +40.5% |
| 2020 | 9.4% | -40.3% |
| 2021 | 7.6% | -19.2% |
| 2022 | -10.5% | -238.3% |
| 2023 | -49.7% | +373.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 13.3% | 11.2% | 15.7% | 4 |
| 2020s | -10.8% | -49.7% | 9.4% | 4 |
Countries ranked near Malawi
More financial sector data for Malawi
- 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 0.0002 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0.1505 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 0.0002 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.1099 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 0.0002 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0.1505 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 Malawi?
- Average transaction cost of sending remittances to a specific country in Malawi was -49.7% 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 Malawi?
- The highest recorded value was 15.7% in 2019.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Malawi?
- The lowest recorded value was -49.7% in 2023.
- How does Malawi rank for average transaction cost of sending remittances to a specific country?
- Malawi ranks 100th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Malawi?
- Over the last ten years it is down 451.0%. The long-run trend across the full record is volatile.
- Where does this Malawi 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.