Iceland: Bound rate, simple mean, all products (%)

Key figures

What the numbers say

On record, the biggest yearly rise was 1.48 percentage points in 2012 and the biggest yearly fall was 12.07 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 1.59 percentage points a year. A straight line explains 61% of the movement over 8 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, Iceland had the 58th 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 Iceland in the 2021 ranking

• United Arab Emirates — 55th of 99: 14.66%
• Malaysia — 56th of 99: 14.52%
• Oman — 57th of 99: 14.07%
• China — 59th of 99: 10.01%
• Australia — 60th of 99: 9.56%
• New Zealand — 61st of 99: 9.41%

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.

All 22 values

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

• Albania — 6.82% (2021)
• Armenia — 8.7% (2021)
• Austria — 4.39% (2021)
• Belgium — 4.39% (2021)
• Bulgaria — 4.39% (2021)
• Cyprus — 4.39% (2021)
• Czechia — 4.39% (2021)
• Denmark — 4.39% (2021)
• Estonia — 4.39% (2021)
• Finland — 4.39% (2021)
• France

More trade data for Iceland

• Tariff rate, applied, simple mean, manufactured products (%) — 0% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 0% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 0% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 0% (2022)
• Tariff rate, applied, simple mean, all products (%) — 1.32% (2022)
• Tariff rate, most favored nation, simple mean, all products (%) — 4.09% (2022)
• Tariff rate, applied, weighted mean, all products (%) — 1.63% (2022)
• Tariff rate, most favored nation, weighted mean, all products (%) — 3.06% (2022)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Iceland's bound rate, simple mean, all products (%)?

13.84% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is up 0.34 percentage points from 13.5% in 1996. The highest value was 25.82% in 2012 and the lowest 13.5% in 1996.

How does Iceland rank?

58th highest of 99 economies with data for 2021.

Where does this data come from?

The World Bank's World Development Indicators, 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).

Source

World Bank, World Development Indicators, indicator TM.TAX.MRCH.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.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.