Globally, the average cost to send remittances fell from 9.1 percent to 7.1 percent over the last four years, but it remains above the SDG target of 3 percent. SDG 10.c
Average cost of remittance services, by receiving region (% of transaction) Sub-Saharan Africa
12
10 World East Asia & Pacific 8
Middle East & North Africa Latin America & Caribbean South Asia Europe & Central Asia
6 SDG target for average remittance costs by 2030: under 3 percent.
4
2 2014
+£ Óä£Î
2015
2016
2017
+{ Óä£Ç
Source: Remittance Prices Worldwide, World Bank, Issue 24. https://remittanceprices.worldbank.org/
Remittance costs vary between sending and receiving country corridors. The SDG target aims to bring all corridor costs to below 5 percent of the amount remitted. Average cost of sending remittances between countries (% of transaction)
Sending from this country
The average cost of sending money from the United States to India is 0.8 percent.
p. Re b h s s a r e e ala ia a n pin glad ano ank eria stan nes nam pt, A tem ico a p a i i n o i t L l a i y n i k b g ex i M Gu Sr Ind Vie Eg Le Pa Ba Ni Ph Ind Ch
United States
0.8
3.5
3.2
4.7
6
United Kingdom
0.7
0.9
0.9
2
7.7
2.1
Saudi Arabia
2.5
3.9
5.9
4.5
4.3
7.5
6.2
Canada
2
5.3
Singapore
0.7
2.9
United Arab Emirates
2.9
Australia
0.7
Italy
SDG 10.c
To this country
2.8
0.7
0.8
3.1
3.5
3.3
3.1
Germany
1.4
2.4
Malaysia
2.1
5.1
3.4
France
1.3 11.8
South Africa
9.4 16.1
Spain
17.8
1.1 2.4
6.2
3.5
3.9
4.5
2.4
4
8.1 7.6
2.1
7.7
6.4 6.3
7.9
Some corridors are very expensive: it typically costs $21 to send $200 from Italy to Egypt.
10.6 1.4
4.2
7.2
2.2
4
5.3 3.5
3.7
5.7
2.5
0.6
4.1 2.3
3.3
0.1
7.8 2.4
6.8
0.3
5.4
0.9 12.6 4.2
Qatar
7.6
6.5 3
3.3
6.7 7.2
5 ä Î
8.9 Î x
x £ä
£ä > ` >L Ûi
No data
Ìi\ / i V ÃÌÃ Ã Ü ÕÃi Ì i - >ÀÌ ,i ÌÌiÀ />À}iÌ iÌ ` }Þ] Ü V >ÛiÀ>}iÃ Ì i Ì Àii V i>«iÃÌ ÃiÀÛ Vià v À Ài ÌÌ } iÞ° ,i ÌÌ> Vi V ÀÀ ` ÀÃ Ü Ì Ì i >À}iÃÌ v Üà v iÞ >Ài Ã Ü ° / i `>Ì>ÃiÌ ` iÃ Ì V ÛiÀ V ÀÀ ` ÀÃ Ü iÀi Ài ÌÌ> Vi v Üà >Ài Ài >Ì Ûi Þ Ã > ° Source: World Bank, Remittances Prices Worldwide (database) https://remittanceprices.worldbank.org/
Atlas of Sustainable Development Goals 2018
41