GoBear is now part of Finder

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Indonesian remittance statistics

Remittances accounted for 1.1% of the country’s GDP in 2019.

Indonesia received US$9.6 billion in remittances in 2020 and sent US$4.5 billion abroad. We’ve unpacked the most recently available data from the World Bank to get an idea of where this money is coming from.

What does remittance mean?

Remittance refers to the transfer of money. In this case, it’s about transferring funds from someone in one country to a person in another country. It’s particularly important in many developing nations, where international remittances make up a significant portion of the country’s GDP. The total value of remittances received in Indonesia has increased significantly over the past two decades.

Where is the money coming from?

Of all the countries that send remittances to Indonesia, Saudi Arabia sends the most, with $3.4 billion being sent in 2017. Malaysia sends the second most at $2.2 billion followed by the United Arab Emirates at $770 million.

Top 22 countries that send remittances to Indonesia:

RankSending countryUS$ millions
1Saudi Arabia$3,400
2Malaysia$2,152
3United Arab Emirates$770
4Singapore$380
5Netherlands$309
6Hong Kong SAR, China$307
7Bangladesh$276
8United States$248
9Kuwait$202
10Australia$172
11China$109
12Qatar$107
13Oman$74
14Korea, Rep.$72
15Japan$63
16Bahrain$62
17Germany$36
18Canada$34
19United Kingdom$25
20Libya$24
21Papua New Guinea$22
22Jordan$16

Sources: World Bank, finder.com

Where are remittances sent to?

Money flows both ways, with remittances also being sent out of Indonesia. Overall, the amount of money being sent out of Indonesia is much smaller, with just $877 million sent in 2017. The most money was sent to China, followed by Thailand, Japan and Korea.

Top 17 countries that Indonesia sends money to:

Sources: World Bank, finder.com

RankSending countryUS$ millions
1China$359
2Thailand$116
3Japan$74
4Korea, Rep.$66
5Jordan$46
6Timor-Leste$44
7India$42
8Australia$38
9United Kingdom$23
10United States$22
11Pakistan$19
12Philippines$15
13Netherlands$9
14Saudi Arabia$2
15Canada$2
16Malaysia$2
17Syrian Arab Republic$1

What are the remittance fees around the world?

With such an enormous amount of money being moved across borders, what is the cost of sending money overseas? The fees that most providers charge include exchange-rate margins as well as a transfer fee.

The global average rate for remittances is 7.14%*, but this varies by country and method of payment. Banks are by far the most expensive method to remit money, with fees averaging 10.8%. Money transfer operators charge an average fee of 6.2%, while post offices charge the least at 5.5%. However, this is just an average, and the number can vary. Make sure to compare what options are available to you before diving in.

The map below shows the average rate of remittance fees globally and is sortable by the year. In 2017, the most expensive countries included Angola at 24% and Nigeria at 25%.

Net remittances

The world map below illustrates which countries receive the most remittances and which countries send out the most. To show this, we've used the data on what each country receives in remittances minus what it sends out. If a country has a negative value, this means that it's sending out more than what it's receiving.

The United States, for example, is the country that sends out the most money in remittances compared to what it receives. India, on the other hand, receives more remittance payments than it sends out.


More guides on Finder

  • How to buy Cardano (ADA) in Indonesia

    Cardano (ADA) is an entirely new cryptocurrency network built from scratch. See what makes it unique, and where you can buy it.

  • Gemini vs Coinbase

    We compare these two large cryptocurrency exchanges to see how their fees, features and customer support stack up.

  • What is Bitcoin?

    Bitcoin is considered the original cryptocurrency, disrupting the financial sector and how we pay for services and products.

  • How to sell Bitcoin

    Find out where to sell Bitcoin, how to set your prices and pick up tips to help you get a better price.

  • Review: Paybis cryptocurrency exchange

    Your detailed review of the Paybis cryptocurrency exchange, including supported cryptos, registration, fees and payment methods.

  • Finder’s Starbucks Index 2019

    Ever wondered how much a tall Starbucks latte costs around the world? And what does that say about the value of currency? Finder’s Starbucks Index 2019 delves into the data to find out.

  • Kraken cryptocurrency exchange review

    Kraken is a reputable Bitcoin and altcoin exchange that is designed with the advanced trader in mind.

  • Review: eToro cryptocurrency trading

    If you’re thinking of trading cryptocurrency on eToro, make sure you check out our comprehensive eToro review first.

  • Remitano P2P cryptocurrency platform – review

    See how Remitano works and find out how to buy and sell BTC, ETH, USDT and more peer-to-peer.

  • What is a stablecoin?

    A comprehensive overview of cryptocurrency stablecoins, including how they work, what they’re used for and why they’re important.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site