In 2023, China dominated the global credit transfers landscape with a significant share, substantially surpassing the United States and the United Kingdom. The U.S. and U.K. followed while Germany and the Netherlands completed the top five. Notable growth was observed in China, the Netherlands, and India, while countries like Spain, Germany, and Japan experienced declines. The five-year CAGR points to robust growth in emerging markets, albeit at a slower pace in mature economies.
Future trends to watch include continued growth in China and emerging markets like India and Indonesia, backed by digital payment adoption and economic expansion. Conversely, mature markets may witness slower growth due to market saturation and economic challenges.
Top countries in Value of Credit Transfers Share by Country (Million US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 52.16 | 2023 | +4.16% | +5.17% | View data |
| 2 | 2 United States | 12.13 | 2023 | +2.09% | +1.68% | View data |
| 3 | 3 United Kingdom | 11.61 | 2023 | +0.073% | -0.24% | View data |
| 4 | 4 Germany | 5.39 | 2023 | -1.59% | -2.14% | View data |
| 5 | 5 Netherlands | 2.81 | 2023 | +3.29% | +4.81% | View data |
| 6 | 6 France | 2.72 | 2023 | -0.31% | -0.74% | View data |
| 7 | 7 Japan | 2.35 | 2023 | -1.78% | -2.03% | View data |
| 8 | 8 South Korea | 2.02 | 2023 | +2.3% | +1.91% | View data |
| 9 | 9 Mexico | 1.53 | 2023 | -1.05% | -1.5% | View data |
| 10 | 10 Brazil | 1.15 | 2023 | -0.72% | -0.99% | View data |
