Average transaction cost of sending remittances to a specific country in Myanmar
Myanmar: Average transaction cost of sending remittances to a specific country was 4.0% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in Myanmar, 2016–2023
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 Myanmar is 4.0%, measured in 2023.
The figure is up 142.7% on the previous year and down 26.0% over ten years.
Myanmar ranks 33rd of 100 countries on this measure, in the middle of the range.
Average transaction cost of sending remittances to a specific country in Myanmar, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 5.5% | — |
| 2017 | 7.2% | +31.2% |
| 2018 | 7.5% | +4.9% |
| 2019 | 5.1% | -32.4% |
| 2020 | 5.3% | +4.0% |
| 2021 | 1.3% | -75.2% |
| 2022 | -9.5% | -823.6% |
| 2023 | 4.0% | -142.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.3% | 5.1% | 7.5% | 4 |
| 2020s | 0.3% | -9.5% | 5.3% | 4 |
Countries ranked near Myanmar
- 30 Kyrgyzstan 4.2% compare
- 31 Morocco 4.2% compare
- 32 Tonga 4.1% compare
- 34 Bosnia and Herzegovina 3.9% compare
- 35 Kenya 3.9% compare
- 36 Mozambique 3.8% compare
More financial sector data for Myanmar
- Reserve position in the IMF, US dollar, annual growth rate -100 % change on previous year (1985)
- Reserve position in the IMF, US dollar, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 0 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate -100 % change on previous year (1985)
- Reserve position in the IMF, SDR, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate -100 % change on previous year (1985)
- Reserve tranche position, US dollar, per unit of GDP 0 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 0 units per person (2025)
- Reserve tranche position, SDR, annual growth rate -100 % change on previous year (1985)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in Myanmar?
- Average transaction cost of sending remittances to a specific country in Myanmar was 4.0% 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 Myanmar?
- The highest recorded value was 7.5% in 2018.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Myanmar?
- The lowest recorded value was -9.5% in 2022.
- How does Myanmar rank for average transaction cost of sending remittances to a specific country?
- Myanmar ranks 33rd out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Myanmar?
- Over the last ten years it is down 26.0%. The long-run trend across the full record is volatile.
- Where does this Myanmar 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.