Remitting towards South Africa incurred an average cost of roughly 6.6 percent over the course of 2023, a decrease when compared to the previous year. The cost of sending money to the African country was at its highest in 2013, and generally declined before decreasing significantly at the end of 2021. The source adds that incoming remittances to South Africa were more expensive than the average for the G20 countries, which was estimated at 5.62 percent for sending money worth 200 U.S. dollars.
Total average cost of sending 200 U.S. dollars worth of remittances towards South Africa from the rest of the world from 1st quarter of 2011 to 3rd quarter of 2023
Characteristic
Costs of sending 200 U.S. dollars to this country, as proportion of remittance value received
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Statista, & World Bank (Remittance Prices Worldwide), & FXC Intelligence. (January 11, 2024). Total average cost of sending 200 U.S. dollars worth of remittances towards South Africa from the rest of the world from 1st quarter of 2011 to 3rd quarter of 2023 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/962889/cost-sending-remittances-to-south-africa/
Statista, und World Bank (Remittance Prices Worldwide), und FXC Intelligence. "Total average cost of sending 200 U.S. dollars worth of remittances towards South Africa from the rest of the world from 1st quarter of 2011 to 3rd quarter of 2023." Chart. January 11, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/962889/cost-sending-remittances-to-south-africa/
Statista, World Bank (Remittance Prices Worldwide), FXC Intelligence. (2024). Total average cost of sending 200 U.S. dollars worth of remittances towards South Africa from the rest of the world from 1st quarter of 2011 to 3rd quarter of 2023. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/962889/cost-sending-remittances-to-south-africa/
Statista, and World Bank (Remittance Prices Worldwide), and FXC Intelligence. "Total Average Cost of Sending 200 U.S. Dollars worth of Remittances towards South Africa from The Rest of The World from 1st Quarter of 2011 to 3rd Quarter of 2023." Statista, Statista Inc., 11 Jan 2024, https://www.statista.com/statistics/962889/cost-sending-remittances-to-south-africa/
Statista & World Bank (Remittance Prices Worldwide) & FXC Intelligence, Total average cost of sending 200 U.S. dollars worth of remittances towards South Africa from the rest of the world from 1st quarter of 2011 to 3rd quarter of 2023 Statista, https://www.statista.com/statistics/962889/cost-sending-remittances-to-south-africa/ (last visited November 21, 2024)
Total average cost of sending 200 U.S. dollars worth of remittances towards South Africa from the rest of the world from 1st quarter of 2011 to 3rd quarter of 2023 [Graph], Statista, & World Bank (Remittance Prices Worldwide), & FXC Intelligence, January 11, 2024. [Online]. Available: https://www.statista.com/statistics/962889/cost-sending-remittances-to-south-africa/
