Indicator 10.c.1

Indicator 10.c.1

Remittance costs as a proportion of the amount remitted, %

The target includes two components. The first component is that transaction costs for migrant remittances should be 3% or less by 2030. This transaction cost should be intended as “Global average total cost of sending $200 (or equivalent in local sending currency) and expressed as % of amount sent”. This indicator is readily available and published on a quarterly basis by the World Bank in the Remittance Prices Worldwide database, which covers 365 country corridors, from 48 sending to 105 receiving countries. The second component is to eliminate corridor where cost is 5% or higher. This should be intended in the sense that it should be possible for remittance senders to send money to the beneficiary for an average cost of 5% or less of the amount sent. For this purpose, it should suffice that in each corridor there are at least 3 services, meeting a defined set of service requirements (including service quality, reach etc.), for which the average is 5% or less.

INDICATOR 10.c.1
Remittance costs as a proportion of the amount remitted. The target includes two components. The first component is that transaction costs for migrant remittances should be 3% or less by 2030. This transaction cost should be intended as “Global average total cost of sending $200 (or equivalent in local sending currency) and expressed as % of amount sent”. This indicator is readily available and published on a quarterly basis by the World Bank in the Remittance Prices Worldwide database, which covers 365 country corridors, from 48 sending to 105 receiving countries. The second component is to eliminate corridor where cost is 5% or higher. This should be intended in the sense that it should be possible for remittance senders to send money to the beneficiary for an average cost of 5% or less of the amount sent. For this purpose, it should suffice that in each corridor there are at least 3 services, meeting a defined set of service requirements (including service quality, reach etc.), for which the average is 5% or less.
TARGET 10.c
By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent.
GOAL 10
Reduce inequality within and among countries
See United Nations Global SDG Database

Indicator 10.c.1

Indicator 10.c.1

Remittance costs as a proportion of the amount remitted, %

Heat map
Bubble map
INDICATOR 10.c.1
Remittance costs as a proportion of the amount remitted. The target includes two components. The first component is that transaction costs for migrant remittances should be 3% or less by 2030. This transaction cost should be intended as “Global average total cost of sending $200 (or equivalent in local sending currency) and expressed as % of amount sent”. This indicator is readily available and published on a quarterly basis by the World Bank in the Remittance Prices Worldwide database, which covers 365 country corridors, from 48 sending to 105 receiving countries. The second component is to eliminate corridor where cost is 5% or higher. This should be intended in the sense that it should be possible for remittance senders to send money to the beneficiary for an average cost of 5% or less of the amount sent. For this purpose, it should suffice that in each corridor there are at least 3 services, meeting a defined set of service requirements (including service quality, reach etc.), for which the average is 5% or less.
TARGET 10.c
By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent.
GOAL 10
Reduce inequality within and among countries
See United Nations Global SDG Database

Indicator 10.c.1

Indicator 10.c.1

Remittance costs as a proportion of the amount remitted, %

INDICATOR 10.c.1
Remittance costs as a proportion of the amount remitted. The target includes two components. The first component is that transaction costs for migrant remittances should be 3% or less by 2030. This transaction cost should be intended as “Global average total cost of sending $200 (or equivalent in local sending currency) and expressed as % of amount sent”. This indicator is readily available and published on a quarterly basis by the World Bank in the Remittance Prices Worldwide database, which covers 365 country corridors, from 48 sending to 105 receiving countries. The second component is to eliminate corridor where cost is 5% or higher. This should be intended in the sense that it should be possible for remittance senders to send money to the beneficiary for an average cost of 5% or less of the amount sent. For this purpose, it should suffice that in each corridor there are at least 3 services, meeting a defined set of service requirements (including service quality, reach etc.), for which the average is 5% or less.
TARGET 10.c
By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent.
GOAL 10
Reduce inequality within and among countries
See United Nations Global SDG Database

Indicator 10.c.1

Indicator 10.c.1

Remittance costs as a proportion of the amount remitted, %

Country 2011 2012 2013 2014 2015 2016 2017 2018
Albania 7.9 .. .. .. 7.9 .. 8.4 8.4
Armenia 1.8 .. .. .. 1.5 .. 4.0 5.7
Azerbaijan 2.3 .. .. .. 1.1 .. 1.0 1.3
Belarus .. .. .. .. .. .. 18.3 1.6
Bosnia and Herzegovina 13.9 .. .. .. 7.3 .. 6.5 6.9
Bulgaria 9.1 .. .. .. 9.2 .. 8.2 8.6
Croatia .. .. .. .. .. .. 11.0 6.2
Estonia 4.6 .. .. .. 5.8 .. 6.4 4.3
Georgia 2.6 .. .. .. 1.2 .. 1.3 1.3
Hungary .. .. .. .. 6.1 .. 8.1 8.5
Kazakhstan 2.3 .. .. .. 1.4 .. 1.3 1.5
Kyrgyzstan 2.2 .. .. .. 1.2 .. 4.0 5.5
Latvia 4.3 .. .. .. 4.8 .. 5.1 4.0
Lithuania 7.8 .. .. .. 8.2 .. 7.1 6.7
North Macedonia .. .. .. .. .. .. 10.4 10.2
Poland 7.2 .. .. .. 6.6 .. 5.7 5.0
Republic of Moldova 7.7 .. .. .. 5.7 .. 5.7 5.8
Romania 7.1 .. .. .. 6.1 .. 5.1 4.8
Serbia 10.5 .. .. .. 9.2 .. 9.2 8.3
Tajikistan 2.6 .. .. .. 1.5 .. 4.6 4.3
Turkey 8.8 .. .. .. 7.0 .. 6.8 7.1
Ukraine 6.3 .. .. .. 4.7 .. 6.8 6.4
Uzbekistan 2.2 .. .. .. 1.7 .. 1.7 1.4
Country 2011 2012 2013 2014 2015 2016 2017 2018
Albania 7.9 .. .. .. 7.9 .. 8.4 8.4
Armenia 1.8 .. .. .. 1.5 .. 4.0 5.7
Azerbaijan 2.3 .. .. .. 1.1 .. 1.0 1.3
Belarus .. .. .. .. .. .. 18.3 1.6
Bosnia and Herzegovina 13.9 .. .. .. 7.3 .. 6.5 6.9
Bulgaria 9.1 .. .. .. 9.2 .. 8.2 8.6
Croatia .. .. .. .. .. .. 11.0 6.2
Estonia 4.6 .. .. .. 5.8 .. 6.4 4.3
Georgia 2.6 .. .. .. 1.2 .. 1.3 1.3
Hungary .. .. .. .. 6.1 .. 8.1 8.5
Kazakhstan 2.3 .. .. .. 1.4 .. 1.3 1.5
Kyrgyzstan 2.2 .. .. .. 1.2 .. 4.0 5.5
Latvia 4.3 .. .. .. 4.8 .. 5.1 4.0
Lithuania 7.8 .. .. .. 8.2 .. 7.1 6.7
North Macedonia .. .. .. .. .. .. 10.4 10.2
Poland 7.2 .. .. .. 6.6 .. 5.7 5.0
Republic of Moldova 7.7 .. .. .. 5.7 .. 5.7 5.8
Romania 7.1 .. .. .. 6.1 .. 5.1 4.8
Serbia 10.5 .. .. .. 9.2 .. 9.2 8.3
Tajikistan 2.6 .. .. .. 1.5 .. 4.6 4.3
Turkey 8.8 .. .. .. 7.0 .. 6.8 7.1
Ukraine 6.3 .. .. .. 4.7 .. 6.8 6.4
Uzbekistan 2.2 .. .. .. 1.7 .. 1.7 1.4
INDICATOR 10.c.1
Remittance costs as a proportion of the amount remitted. The target includes two components. The first component is that transaction costs for migrant remittances should be 3% or less by 2030. This transaction cost should be intended as “Global average total cost of sending $200 (or equivalent in local sending currency) and expressed as % of amount sent”. This indicator is readily available and published on a quarterly basis by the World Bank in the Remittance Prices Worldwide database, which covers 365 country corridors, from 48 sending to 105 receiving countries. The second component is to eliminate corridor where cost is 5% or higher. This should be intended in the sense that it should be possible for remittance senders to send money to the beneficiary for an average cost of 5% or less of the amount sent. For this purpose, it should suffice that in each corridor there are at least 3 services, meeting a defined set of service requirements (including service quality, reach etc.), for which the average is 5% or less.
TARGET 10.c
By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent.
GOAL 10
Reduce inequality within and among countries
See United Nations Global SDG Database

Footnote