Remittance Costs Statistics in Jamaica (2026)
Jamaica recorded the average cost of sending remittances of 3.6% of the amount sent in 2023, World Bank World Development Indicators data show. Down from 3.9% in 2022 to 3.6% in 2023 (−0.3 percentage points). Jamaica ranks #14 of 18 economies in Latin America & Caribbean on this measure, and #63 of 101 globally.
Key Statistics
- Latest value (2023)
- 3.6% (2023)
- Remittance Costs in Jamaica as of 2023, the most recent observation in World Bank World Development Indicators data.
- Change since 2022
- −0.3 pp (2023)
- Down from 3.9% in 2022 to 3.6% in 2023 (−0.3 percentage points).
- Earliest value in this dataset (2016)
- 9% (2016)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 9% in 2016 to 3.6% in 2023.
- Peak value (2016)
- 9% (2016)
- Highest value in the available series; the 2023 value is 3.6%.
- Rank in Latin America & Caribbean (lower is better; rank 1 = lowest)
- #14 of 18 (2023)
- Jamaica ranks 14 of 18 countries in Latin America & Caribbean 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)
- #63 of 101 (2023)
- Jamaica ranks 63 of 101 countries with data globally. Ranked ascending because lower values are better for this metric.
- Latin America & Caribbean average
- 4.1% (2023)
- Jamaica (3.6%) is below the average of 4.1% across the 18 countries in Latin America & Caribbean with data.
- Personal remittances, received (current US$) (2024)
- $3.6 billion (2024)
- Related indicator from World Bank World Development Indicators.
- Internet use in Jamaica (2024)
- 90.1% (2024)
- 90.1% of the population in Jamaica used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 2.8 million (2024)
- Jamaica had a population of 2.8 million in 2024 (World Bank); shown for scale only.
Trend, 2016–2023
| Year | % of amount sent | Change |
|---|---|---|
| 2023 | 3.6% | −0.3 pp |
| 2022 | 3.9% | +0.4 pp |
| 2021 | 3.4% | −0.4 pp |
| 2020 | 3.8% | −2.8 pp |
| 2019 | 6.7% | −0.1 pp |
| 2018 | 6.7% | −1.2 pp |
| 2017 | 8% | −1.1 pp |
| 2016 | 9% | — |
Frequently asked questions
What is the latest figure for average cost of sending remittances in Jamaica?
The average cost of sending remittances in Jamaica stood at 3.6% of the amount sent in 2023, according to World Bank World Development Indicators data.
Where does Jamaica rank globally on remittance costs?
Jamaica ranks 63 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 Jamaica peak?
The highest value in the available series was 9% in 2016; the latest (2023) value is 3.6%.
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 .