Average transaction cost of sending remittances to a specific country in Sri Lanka
Sri Lanka: Average transaction cost of sending remittances to a specific country was 2.2% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in Sri Lanka, 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 Sri Lanka stood at 2.2%.
That represents a change of up 0.6% on the previous year and down 63.9% over ten years.
Sri Lanka ranks 67th of 100 countries on this measure, in the middle of the range.
Average transaction cost of sending remittances to a specific country in Sri Lanka, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 6.1% | — |
| 2017 | 3.5% | -42.1% |
| 2018 | 3.0% | -14.0% |
| 2019 | 2.5% | -18.6% |
| 2020 | 2.7% | +9.6% |
| 2021 | 1.9% | -30.2% |
| 2022 | 2.2% | +15.9% |
| 2023 | 2.2% | +0.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 3.8% | 2.5% | 6.1% | 4 |
| 2020s | 2.2% | 1.9% | 2.7% | 4 |
Countries ranked near Sri Lanka
More financial sector data for Sri Lanka
- 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 0.1797 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 0.1312 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 0.1797 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 Sri Lanka?
- Average transaction cost of sending remittances to a specific country in Sri Lanka was 2.2% 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 Sri Lanka?
- The highest recorded value was 6.1% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Sri Lanka?
- The lowest recorded value was 1.9% in 2021.
- How does Sri Lanka rank for average transaction cost of sending remittances to a specific country?
- Sri Lanka ranks 67th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Sri Lanka?
- Over the last ten years it is down 63.9%. The long-run trend across the full record is falling.
- Where does this Sri Lanka 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.