Average transaction cost of sending remittances to a specific country in Vietnam
Vietnam: Average transaction cost of sending remittances to a specific country was 3.5% in 2023. ▼ Falling
Average transaction cost of sending remittances to a specific country in Vietnam, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Vietnam recorded 3.5% for average transaction cost of sending remittances to a specific country in 2023.
That represents a change of up 5.3% on the previous year and down 56.0% over ten years.
That places Vietnam 40th 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 Vietnam, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 7.9% | — |
| 2017 | 7.0% | -10.9% |
| 2018 | 4.7% | -32.9% |
| 2019 | 4.6% | -1.3% |
| 2020 | 4.2% | -9.7% |
| 2021 | 3.9% | -6.0% |
| 2022 | 3.3% | -16.8% |
| 2023 | 3.5% | +5.3% |
Vietnam compared with similar countries
- Vietnam's 3.5% is above the median for upper middle income countries, which is 2.6%, 1.4× the median. (39 countries reporting)
- Vietnam's 3.5% is above the median for East Asia & Pacific, which is 3.2%, 1.1× the median. (13 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.1% | 4.6% | 7.9% | 4 |
| 2020s | 3.7% | 3.3% | 4.2% | 4 |
Countries ranked near Vietnam
More financial sector data for Vietnam
- 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 0.0001 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 0.0001 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 Vietnam?
- Average transaction cost of sending remittances to a specific country in Vietnam was 3.5% 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 Vietnam?
- The highest recorded value was 7.9% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Vietnam?
- The lowest recorded value was 3.3% in 2022.
- How does Vietnam rank for average transaction cost of sending remittances to a specific country?
- Vietnam ranks 40th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Vietnam?
- Over the last ten years it is down 56.0%. The long-run trend across the full record is falling.
- Where does this Vietnam 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.