Average transaction cost of sending remittances to a specific country in Malaysia
Malaysia: Average transaction cost of sending remittances to a specific country was 1.0% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in Malaysia, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
In 2023, average transaction cost of sending remittances to a specific country in Malaysia stood at 1.0%.
The figure is up 21.2% on the previous year and down 90.6% over ten years.
That places Malaysia 92nd 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 Malaysia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 10.4% | — |
| 2017 | 1.6% | -84.9% |
| 2018 | 1.4% | -11.3% |
| 2019 | 0.8% | -42.9% |
| 2020 | 1.4% | +73.3% |
| 2021 | 0.8% | -40.7% |
| 2022 | 0.8% | -0.6% |
| 2023 | 1.0% | +21.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.5% | 0.8% | 10.4% | 4 |
| 2020s | 1.0% | 0.8% | 1.4% | 4 |
Countries ranked near Malaysia
More financial sector data for Malaysia
- Reserve position in the IMF, US dollar, annual growth rate 5.91 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0027 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 35.78 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.8573 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.002 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 26.13 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.91 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0027 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 35.78 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.8573 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in Malaysia?
- Average transaction cost of sending remittances to a specific country in Malaysia was 1.0% 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 Malaysia?
- The highest recorded value was 10.4% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Malaysia?
- The lowest recorded value was 0.8% in 2019.
- How does Malaysia rank for average transaction cost of sending remittances to a specific country?
- Malaysia ranks 92nd out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Malaysia?
- Over the last ten years it is down 90.6%. The long-run trend across the full record is volatile.
- Where does this Malaysia 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.