Average transaction cost of sending remittances to a specific country in Tanzania
Tanzania: Average transaction cost of sending remittances to a specific country was 5.3% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in Tanzania, 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 Tanzania stood at 5.3%.
The figure is up 321.8% on the previous year and down 54.5% over ten years.
That places Tanzania 20th out of 100 countries with data for 2023, putting it in the top quarter.
Average transaction cost of sending remittances to a specific country in Tanzania, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 11.6% | — |
| 2017 | 6.2% | -46.7% |
| 2018 | 7.9% | +27.3% |
| 2019 | 10.1% | +28.4% |
| 2020 | 7.3% | -28.1% |
| 2021 | 5.9% | -19.1% |
| 2022 | 1.3% | -78.6% |
| 2023 | 5.3% | +321.8% |
Tanzania compared with similar countries
- Tanzania's 5.3% is above the median for lower middle income countries, which is 3.4%, 1.6× the median. (34 countries reporting)
- Tanzania's 5.3% is above the median for Sub-Saharan Africa, which is 3.8%, 1.4× the median. (31 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 9.0% | 6.2% | 11.6% | 4 |
| 2020s | 4.9% | 1.3% | 7.3% | 4 |
Countries ranked near Tanzania
More financial sector data for Tanzania
- 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 0.0009 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.16 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 0.0007 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.8467 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 0.0009 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.16 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 Tanzania?
- Average transaction cost of sending remittances to a specific country in Tanzania was 5.3% 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 Tanzania?
- The highest recorded value was 11.6% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Tanzania?
- The lowest recorded value was 1.3% in 2022.
- How does Tanzania rank for average transaction cost of sending remittances to a specific country?
- Tanzania ranks 20th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Tanzania?
- Over the last ten years it is down 54.5%. The long-run trend across the full record is falling.
- Where does this Tanzania 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.