Average transaction cost of sending remittances to a specific country in Mexico
Mexico: Average transaction cost of sending remittances to a specific country was 2.7% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in Mexico, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Mexico recorded 2.7% for average transaction cost of sending remittances to a specific country in 2023.
That represents a change of up 98.0% on the previous year and down 57.2% over ten years.
That places Mexico 54th out of 100 countries with data for 2023, putting it in the middle of the range.
Average transaction cost of sending remittances to a specific country in Mexico, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 6.2% | — |
| 2017 | 3.5% | -43.4% |
| 2018 | 2.3% | -34.5% |
| 2019 | 4.4% | +91.9% |
| 2020 | 2.3% | -48.5% |
| 2021 | 1.8% | -21.6% |
| 2022 | 1.3% | -24.7% |
| 2023 | 2.7% | +98.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 4.1% | 2.3% | 6.2% | 4 |
| 2020s | 2.0% | 1.3% | 2.7% | 4 |
Countries ranked near Mexico
More financial sector data for Mexico
- Reserve position in the IMF, US dollar, annual growth rate 14.41 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 24.82 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 8.95 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0013 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 18.13 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 14.41 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 24.82 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 8.95 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in Mexico?
- Average transaction cost of sending remittances to a specific country in Mexico was 2.7% 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 Mexico?
- The highest recorded value was 6.2% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Mexico?
- The lowest recorded value was 1.3% in 2022.
- How does Mexico rank for average transaction cost of sending remittances to a specific country?
- Mexico ranks 54th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Mexico?
- Over the last ten years it is down 57.2%. The long-run trend across the full record is falling.
- Where does this Mexico 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.