Guyana: Binding coverage, all products (%)

Key figures

What the numbers say

In 2022, Guyana's binding coverage, all products (%) did not change 0 percentage points on 2021 (from 99.98% to 99.98%).

Across the 17 yearly changes before that (2000 to 2021), the average change was +0 percentage points and a typical year strayed about 0 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 0.02 percentage points in 2007. 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 there is no clear straight-line trend: a straight line explains less than 1% of the movement over 9 observed years, so the value is moving around more than it is heading anywhere.

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

How it compares

In 2022, Guyana had the 2nd highest value of the 130 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 Guyana in the 2022 ranking

• Colombia — 7th of 130: 99.98%
• Georgia — 8th of 130: 99.98%
• Grenada — 9th of 130: 99.98%
• Mexico — 11th of 130: 99.98%
• Moldova — 12th of 130: 99.98%
• Paraguay — 13th of 130: 99.98%

What this measures

Binding coverage is the percentage of product lines with an agreed bound rate. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable.

All 22 values

Binding coverage, all products (%) in nearby economies

• Antigua and Barbuda — 97.5% (2021)
• Argentina — 99.98% (2022)
• Barbados — 95.84% (2022)
• Belize — 0% (2022)
• Bolivia — 99.98% (2022)
• Brazil — 99.98% (2022)
• Chile — 99.98% (2022)
• Colombia — 99.98% (2022)
• Costa Rica — 0% (2022)
• Cuba — 32.59% (2022)
• Dominica — 92.72% (2020)

More trade data for Guyana

• Binding coverage, manufactured products (%) — 100% (2022)
• Bound rate, simple mean, manufactured products (%) — 50.51% (2022)
• Tariff rate, applied, simple mean, manufactured products (%) — 8.05% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 8.92% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 8.25% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 9.56% (2022)
• Bound rate, simple mean, all products (%) — 57.23% (2022)
• Tariff rate, applied, simple mean, all products (%) — 9.16% (2022)
• Tariff rate, most favored nation, simple mean, all products (%)

Reading data like this

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Questions people ask

What is Guyana's binding coverage, all products (%)?

99.98% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is down 0.02 percentage points from 100% in 1996. The highest value was 100% in 1996 and the lowest 99.96% in 2006.

How does Guyana rank?

2nd highest of 130 economies with data for 2022.

Is the latest change in binding coverage, all products (%) unusual for Guyana?

In 2022, Guyana's binding coverage, all products (%) did not change 0 percentage points on 2021 (from 99.98% to 99.98%). Across the 17 yearly changes before that (2000 to 2021), the average change was +0 percentage points and a typical year strayed about 0 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.BC.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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