Average transaction cost of sending remittances to a specific country in North Macedonia
North Macedonia: Average transaction cost of sending remittances to a specific country was 2.1% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in North Macedonia, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
North Macedonia recorded 2.1% for average transaction cost of sending remittances to a specific country in 2023. That is the lowest value across all 8 years on record.
Compared with earlier readings it is down 6.2% on the previous year and down 77.1% over ten years.
That places North Macedonia 70th 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 North Macedonia, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 9.2% | — |
| 2017 | 10.2% | +11.6% |
| 2018 | 7.7% | -24.5% |
| 2019 | 7.0% | -8.9% |
| 2020 | 3.8% | -46.7% |
| 2021 | 3.3% | -12.7% |
| 2022 | 2.2% | -31.7% |
| 2023 | 2.1% | -6.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 8.6% | 7.0% | 10.2% | 4 |
| 2020s | 2.8% | 2.1% | 3.8% | 4 |
Countries ranked near North Macedonia
More financial sector data for North Macedonia
- 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 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 0 % change on previous year (2025)
- 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 5.01 % change on previous year (2025)
- 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 0 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in North Macedonia?
- Average transaction cost of sending remittances to a specific country in North Macedonia was 2.1% 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 North Macedonia?
- The highest recorded value was 10.2% in 2017.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in North Macedonia?
- The lowest recorded value was 2.1% in 2023.
- How does North Macedonia rank for average transaction cost of sending remittances to a specific country?
- North Macedonia ranks 70th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in North Macedonia?
- Over the last ten years it is down 77.1%. The long-run trend across the full record is volatile.
- Where does this North Macedonia 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.