Australia: Bound rate, simple mean, manufactured products (%)

Key figures

What the numbers say

In 2021, Australia's bound rate, simple mean, manufactured products (%) did not change 0 percentage points on 2020 (from 12.08% to 12.08%).

Across the 24 yearly changes before that (1997 to 2020), the average change was +0.01 percentage points and a typical year strayed about 0.11 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 0.48 percentage points in 2002 and the biggest yearly fall was 0.24 percentage points in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is downward, about 0.02 percentage points a year. A straight line explains 40% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2021, Australia had the 54th highest value of the 99 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Australia in the 2021 ranking

• Qatar — 51st of 99: 13.86%
• Mali — 52nd of 99: 13.62%
• United Arab Emirates — 53rd of 99: 12.62%
• New Zealand — 55th of 99: 11.28%
• Benin — 56th of 99: 11.25%
• Oman — 57th of 99: 11.14%

What this measures

Simple mean bound rate is the unweighted average of all the lines in the tariff schedule in which bound rates have been set. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.

All 26 values

Bound rate, simple mean, manufactured products (%) in nearby economies

• Brunei Darussalam — 24.74% (2022)
• Cambodia — 17.57% (2021)
• China — 9.53% (2021)
• Fiji — 40.01% (2021)
• Hong Kong SAR, China — 0% (2021)
• Indonesia — 35.21% (2021)
• Japan — 2.49% (2021)
• Korea, Rep. — 11.07% (2021)
• Macao SAR, China — 0% (2021)
• Malaysia

More trade data for Australia

• Tariff rate, applied, simple mean, manufactured products (%) — 2.12% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 2.93% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 1.04% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 3.07% (2022)
• Tariff rate, applied, simple mean, all products (%) — 2.01% (2022)
• Tariff rate, most favored nation, simple mean, all products (%) — 2.43% (2022)
• Tariff rate, applied, weighted mean, all products (%) — 0.99% (2022)
• Tariff rate, most favored nation, weighted mean, all products (%) — 2.84% (2022)

Reading data like this

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Questions people ask

What is Australia's bound rate, simple mean, manufactured products (%)?

12.08% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is up 0.26 percentage points from 11.82% in 1996. The highest value was 12.3% in 2002 and the lowest 11.82% in 1996.

How does Australia rank?

54th highest of 99 economies with data for 2021.

Is the latest change in bound rate, simple mean, manufactured products (%) unusual for Australia?

In 2021, Australia's bound rate, simple mean, manufactured products (%) did not change 0 percentage points on 2020 (from 12.08% to 12.08%). Across the 24 yearly changes before that (1997 to 2020), the average change was +0.01 percentage points and a typical year strayed about 0.11 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator TM.TAX.MANF.BR.ZS, licensed CC BY 4.0. Original source: Staff estimates, World Bank (WB); World Integrated Trade Solution system (WITS), World Bank (WB); World Trade Organization (WTO) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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