Belize: Tariff rate, most favored nation, simple mean, all products (%)

Key figures

What the numbers say

In 2022, Belize's tariff rate, most favored nation, simple mean, all products (%) rose 0.04 percentage points on 2021 (from 11.94% to 11.98%).

Across the 17 yearly changes before that (2002 to 2021), the average change was +0.09 percentage points and a typical year strayed about 0.27 percentage points from that (the standard deviation). This year's change was 0.2 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 0.91 percentage points in 2013 and the biggest yearly fall was 0.21 percentage points in 2011. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2013 to 2022 the straight-line trend is upward, about 0.09 percentage points a year. A straight line explains 66% 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 2022, Belize had the 39th highest value of the 140 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 Belize in the 2022 ranking

• Senegal — 36th of 140: 12.12%
• Togo — 37th of 140: 12.12%
• Mauritania — 38th of 140: 12.09%
• Cabo Verde — 40th of 140: 11.92%
• Bolivia — 41st of 140: 11.9%
• Madagascar — 42nd of 140: 11.87%

What this measures

Simple mean most favored nation tariff rate is the unweighted average of most favored nation rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups.

All 22 values

Tariff rate, most favored nation, simple mean, all products (%) in nearby economies

• Antigua and Barbuda — 9.91% (2021)
• Argentina — 13.11% (2022)
• Bahamas, The — 31.54% (2022)
• Barbados — 13.94% (2022)
• Bolivia — 11.9% (2022)
• Brazil — 13.5% (2022)
• Chile — 5.98% (2022)
• Colombia — 7.09% (2022)
• Costa Rica — 5.49% (2022)

More trade data for Belize

• Binding coverage, manufactured products (%) — 0% (2022)
• Tariff rate, applied, simple mean, manufactured products (%) — 10.04% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 9.13% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 10.93% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 11.38% (2022)
• Binding coverage, all products (%) — 0% (2022)
• Tariff rate, applied, simple mean, all products (%) — 12.02% (2022)
• Tariff rate, applied, weighted mean, all products (%) — 18.05% (2022)
• Tariff rate, most favored nation, weighted mean, all products (%)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Belize's tariff rate, most favored nation, simple mean, all products (%)?

11.98% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is down 10.24 percentage points from 22.22% in 1996. The highest value was 22.22% in 1996 and the lowest 10.37% in 2011.

How does Belize rank?

39th highest of 140 economies with data for 2022.

Is the latest change in tariff rate, most favored nation, simple mean, all products (%) unusual for Belize?

In 2022, Belize's tariff rate, most favored nation, simple mean, all products (%) rose 0.04 percentage points on 2021 (from 11.94% to 11.98%). Across the 17 yearly changes before that (2002 to 2021), the average change was +0.09 percentage points and a typical year strayed about 0.27 percentage points from that (the standard deviation). This year's change was 0.2 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.MRCH.SM.FN.ZS, licensed CC BY 4.0. Original source: Staff estimates; World Integrated Trade Solution system (WITS), World Bank (WB); Trade Analysis and Information System (TRAINS), UN Conference on Trade and Development (UNCTAD); Integrated Data Base (IDB), World Trade Organization (WTO); Consolidated Tariff Schedules (CTS), World Trade Organization… 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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