Average transaction cost of sending remittances to a specific country in Palestine
Palestine: Average transaction cost of sending remittances to a specific country was 2.0% in 2023. ◆ Volatile
Average transaction cost of sending remittances to a specific country in Palestine, 2016–2023
Source: Remittance Prices Worldwide, World Bank (WB). Measured in %.
Analysis
Palestine recorded 2.0% for average transaction cost of sending remittances to a specific country in 2023. That is the lowest value across all 7 years on record.
Compared with earlier readings it is down 79.7% over ten years.
Palestine ranks 79th of 100 countries on this measure, in the bottom quarter.
Average transaction cost of sending remittances to a specific country in Palestine, year by year
| Year | % | Change |
|---|---|---|
| 2016 | 9.7% | — |
| 2018 | 6.2% | -35.4% |
| 2019 | 5.7% | -8.2% |
| 2020 | 6.5% | +12.6% |
| 2021 | 2.0% | -69.6% |
| 2022 | 2.0% | +0.0% |
| 2023 | 2.0% | +0.0% |
Palestine compared with similar countries
- Palestine's 2.0% is below the median for lower middle income countries, which is 3.4%, 58% of the median. (34 countries reporting)
- Palestine's 2.0% is below the median for Middle East, North Africa, Afghanistan & Pakistan, which is 4.2%, 47% of the median. (9 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 7.2% | 5.7% | 9.7% | 3 |
| 2020s | 3.1% | 2.0% | 6.5% | 4 |
Countries ranked near Palestine
More financial sector data for Palestine
- Total reserves in months of imports, annual growth rate 23.12 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Net domestic credit (current LCU), annual growth rate 6.34 % change on previous year (2025)
- Net domestic credit (current LCU), per unit of GDP 0.7396 current LCU per US$ of GDP (2025)
- Net domestic credit (current LCU), per capita 2,345 current LCU per person (2025)
- Net foreign assets (current LCU), annual growth rate 27.58 % change on previous year (2025)
- Net foreign assets (current LCU), per unit of GDP 0.6879 current LCU per US$ of GDP (2025)
- Net foreign assets (current LCU), per capita 2,181 current LCU per person (2025)
- Net migration, annual growth rate -0.0475 % change on previous year (2025)
Frequently asked questions
- What is average transaction cost of sending remittances to a specific country in Palestine?
- Average transaction cost of sending remittances to a specific country in Palestine was 2.0% 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 Palestine?
- The highest recorded value was 9.7% in 2016.
- What is the lowest average transaction cost of sending remittances to a specific country recorded in Palestine?
- The lowest recorded value was 2.0% in 2021.
- How does Palestine rank for average transaction cost of sending remittances to a specific country?
- Palestine ranks 79th out of 100 countries with data for 2023.
- Is average transaction cost of sending remittances to a specific country rising or falling in Palestine?
- Over the last ten years it is down 79.7%. The long-run trend across the full record is volatile.
- Where does this Palestine 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 — 7 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.