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

Key figures

What the numbers say

In 2021, Jamaica's bound rate, simple mean, all products (%) did not change 0 percentage points on 2020 (from 50.58% to 50.58%).

Across the 10 yearly changes before that (2000 to 2020), the average change was −0 percentage points and a typical year strayed about 0.02 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above 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 0.01 percentage points in 2004 and the biggest yearly fall was 0.05 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.

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

How it compares

In 2021, Jamaica had the 21st 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 Jamaica in the 2021 ranking

• Belize — 18th of 99: 59.31%
• Antigua and Barbuda — 19th of 99: 58.75%
• India — 20th of 99: 51.96%
• Guinea-Bissau — 22nd of 99: 48.52%
• Niger — 23rd of 99: 45.23%
• Burkina Faso — 24th of 99: 44.31%

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 17 values

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

• Antigua and Barbuda — 58.75% (2021)
• Argentina — 31.78% (2022)
• Barbados — 78.93% (2022)
• Belize — 59.31% (2021)
• Bolivia — 39.98% (2022)
• Brazil — 31.47% (2022)
• Chile — 25.15% (2022)
• Colombia — 42.84% (2022)
• Costa Rica — 43.05% (2021)
• Cuba — 21.77% (2022)
• Dominica

More trade data for Jamaica

• Import volume index (2015 = 100) — 115.4 (2024)
• Import value index (2015 = 100) — 150.7 (2024)
• Net barter terms of trade index (2015 = 100) — 100.3 (2024)
• Export volume index (2015 = 100) — 117.9 (2024)
• Export value index (2015 = 100) — 154.4 (2024)
• Binding coverage, manufactured products (%) — 0% (2022)
• Tariff rate, applied, simple mean, manufactured products (%) — 8.72% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 5.61% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 9.28% (2022)

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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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

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

50.58% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is up 0.9 percentage points from 49.68% in 1996. The highest value was 50.58% in 2020 and the lowest 49.64% in 2007.

How does Jamaica rank?

21st highest of 99 economies with data for 2021.

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

In 2021, Jamaica's bound rate, simple mean, all products (%) did not change 0 percentage points on 2020 (from 50.58% to 50.58%). Across the 10 yearly changes before that (2000 to 2020), the average change was −0 percentage points and a typical year strayed about 0.02 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above 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.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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