Remittance costs as a proportion of the amount remitted
SDG 10 / Target 10c: by 2030, reduce to less than 3% the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5%
A 10-year trend analysis of the official SDG data using the SDG Data Explorer Tool created by the Commonwealth Secretariat shows that among all Commonwealth countries, the cost of remittances as a proportion of the amount remitted is currently highest in Malawi at 15.8% and lowest in Cameroon at 4.2%. The Commonwealth country that has made the greatest improvement in cutting remittance costs in this 10-year period is also Cameroon. The Commonwealth average for remittance costs over the last 10 years has improved marginally, dropping from 11.2% in 2011 to 9.6% in 2019.