Remittance Costs Statistics in Cape Verde (2026)
Cape Verde recorded the average cost of sending remittances of 3.4% of the amount sent in 2023, World Bank World Development Indicators data show. Down from 6.7% in 2022 to 3.4% in 2023 (−3.3 percentage points). Cape Verde ranks #14 of 32 economies in Sub-Saharan Africa on this measure, and #58 of 101 globally.
Key Statistics
- Latest value (2023)
- 3.4% (2023)
- Remittance Costs in Cape Verde as of 2023, the most recent observation in World Bank World Development Indicators data.
- Change since 2022
- −3.3 pp (2023)
- Down from 6.7% in 2022 to 3.4% in 2023 (−3.3 percentage points).
- Earliest value in this dataset (2016)
- 7.7% (2016)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 7.7% in 2016 to 3.4% in 2023.
- Peak value (2017)
- 8.7% (2017)
- Highest value in the available series; the 2023 value is 3.4%.
- Rank in Sub-Saharan Africa (lower is better; rank 1 = lowest)
- #14 of 32 (2023)
- Cape Verde ranks 14 of 32 countries in Sub-Saharan Africa with data, based on each country's latest value. Ranked ascending because lower values are better for this metric.
- Global rank (lower is better; rank 1 = lowest)
- #58 of 101 (2023)
- Cape Verde ranks 58 of 101 countries with data globally. Ranked ascending because lower values are better for this metric.
- Sub-Saharan Africa average
- 5.2% (2023)
- Cape Verde (3.4%) is below the average of 5.2% across the 32 countries in Sub-Saharan Africa with data.
- Personal remittances, received (current US$) (2024)
- $334 million (2024)
- Related indicator from World Bank World Development Indicators.
- Internet use in Cape Verde (2024)
- 74.7% (2024)
- 74.7% of the population in Cape Verde used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 524,877 (2024)
- Cape Verde had a population of 524,877 in 2024 (World Bank); shown for scale only.
Trend, 2016–2023
| Year | % of amount sent | Change |
|---|---|---|
| 2023 | 3.4% | −3.3 pp |
| 2022 | 6.7% | +0.8 pp |
| 2021 | 5.9% | +0.1 pp |
| 2020 | 5.8% | −1.5 pp |
| 2019 | 7.3% | +1.3 pp |
| 2018 | 6% | −2.8 pp |
| 2017 | 8.7% | +1.0 pp |
| 2016 | 7.7% | — |
Frequently asked questions
What is the latest figure for average cost of sending remittances in Cape Verde?
The average cost of sending remittances in Cape Verde stood at 3.4% of the amount sent in 2023, according to World Bank World Development Indicators data.
Where does Cape Verde rank globally on remittance costs?
Cape Verde ranks 58 of 101 countries with data globally (ranked ascending; lower is better), based on the latest World Bank World Development Indicators value for each country.
When did remittance costs in Cape Verde peak?
The highest value in the available series was 8.7% in 2017; the latest (2023) value is 3.4%.
Source & methodology
Source: World Bank, World Development Indicators, indicator
SI.RMT.COST.IB.ZS, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .