Guyana: Binding coverage, manufactured products (%)

Key figures

What the numbers say

In 2022, Guyana's binding coverage, manufactured products (%) did not change 0 percentage points on 2021 (from 100% to 100%).

Across the 17 yearly changes before that (2000 to 2021), the average change was +0 percentage points and a typical year strayed about 0.01 percentage points from that (the standard deviation). This year's change was 0.3 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 0.03 percentage points in 2019. 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 0.00455 percentage points a year. A straight line explains 71% of the movement over 9 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, Guyana had the 1st 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

• Chile — 7th of 130: 100%
• Colombia — 8th of 130: 100%
• Georgia — 9th of 130: 100%
• Jordan — 11th of 130: 100%
• Mexico — 12th of 130: 100%
• Moldova — 13th of 130: 100%

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. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.

All 22 values

Binding coverage, manufactured products (%) in nearby economies

• Antigua and Barbuda — 99.97% (2021)
• Argentina — 100% (2022)
• Barbados — 100% (2022)
• Belize — 0% (2022)
• Bolivia — 100% (2022)
• Brazil — 100% (2022)
• Chile — 100% (2022)
• Colombia — 100% (2022)
• Costa Rica — 0% (2022)
• Cuba — 23.55% (2022)

More trade data for Guyana

• 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)
• Binding coverage, all products (%) — 99.98% (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, manufactured products (%)?

100% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is unchanged since 1996. The highest value was 100% in 1996 and the lowest 99.95% in 2006.

How does Guyana rank?

1st highest of 130 economies with data for 2022.

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

In 2022, Guyana's binding coverage, manufactured products (%) did not change 0 percentage points on 2021 (from 100% to 100%). Across the 17 yearly changes before that (2000 to 2021), the average change was +0 percentage points and a typical year strayed about 0.01 percentage points from that (the standard deviation). This year's change was 0.3 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.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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