Remittance costs as a proportion of the amount remitted in Canada

Canada: Remittance costs as a proportion of the amount remitted was 6.6% in 2021. β–Ό Falling

Latest (2021)
6.6%
Change on year
up 5.3%
World rank
18th
of 46 countries
All-time high
11.9%
in 2011
All-time low
6.3%
in 2020
Years of data
7
2011–2021

Remittance costs as a proportion of the amount remitted in Canada, 2011–2021

02.557.51012.52011201620212011: 11.9 %2015: 9.1 %2017: 7.3 %2018: 8 %2019: 7.9 %2020: 6.3 %2021: 6.6 %

Source: World Bank (2023) – processed by Our World in Data. Measured in %.

Analysis

In 2021, remittance costs as a proportion of the amount remitted in Canada stood at 6.6%.

The figure is up 5.3% on the previous year and down 44.4% over ten years.

Over the whole period, remittance costs as a proportion of the amount remitted in Canada peaked at 11.9% in 2011 and was at its lowest, 6.3%, in 2020.

Canada ranks 18th of 46 countries on this measure, in the middle of the range.

Averages by decade

DecadeAverage LowestHighest Years
2010s 8.8% 7.3% 11.9% 5
2020s 6.4% 6.3% 6.6% 2

Countries ranked near Canada

  1. 15 Czechia 7.1% compare
  2. 16 Belgium 6.9% compare
  3. 17 Jordan 6.9% compare
  4. 19 Netherlands 6.5% compare
  5. 20 Austria 6.4% compare
  6. 21 Germany 6.4% compare

See the full ranking of 46 places β†’

More reference data data for Canada

All data for Canada β†’

Frequently asked questions

What is remittance costs as a proportion of the amount remitted in Canada?
Remittance costs as a proportion of the amount remitted in Canada was 6.6% in 2021, according to World Bank (2023) – processed by Our World in Data.
What is the highest remittance costs as a proportion of the amount remitted recorded in Canada?
The highest recorded value was 11.9% in 2011.
What is the lowest remittance costs as a proportion of the amount remitted recorded in Canada?
The lowest recorded value was 6.3% in 2020.
How does Canada rank for remittance costs as a proportion of the amount remitted?
Canada ranks 18th out of 46 countries with data for 2021.
Is remittance costs as a proportion of the amount remitted rising or falling in Canada?
Over the last ten years it is down 44.4%. The long-run trend across the full record is falling.
Where does this Canada data come from?
The figures come from World Bank (2023) – processed by Our World in Data, published as part of Remittance costs as a proportion of the amount remitted. Statizoid updates them automatically from the source API.

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About this data

Indicator
Remittance costs as a proportion of the amount remitted
Unit
%
Source
World Bank (2023) – processed by Our World in Data
Licence
CC BY 4.0 (Our World in Data)
Coverage
46 places, 291 data points, 2011–2021
Last refreshed

The average remittance cost of sending $200 (or equivalent in local sending currency) from each country, expressed as a percentage.