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

Key figures

What the numbers say

In 2022, Kuwait's bound rate, simple mean, all products (%) fell 0.09 percentage points on 2021 (from 98.32% to 98.23%).

Across the 19 yearly changes before that (2003 to 2021), the average change was +0.02 percentage points and a typical year strayed about 0.12 percentage points from that (the standard deviation). This year's change was 0.9 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 0.47 percentage points in 2007 and the biggest yearly fall was 0.21 percentage points in 2003. 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 10% of the movement over 10 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, Kuwait had the 2nd highest value of the 35 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 Kuwait in the 2022 ranking

• Bangladesh — 1st of 35: 158.91%
• Myanmar — 3rd of 35: 84.34%
• Barbados — 4th of 35: 78.93%
• St. Vincent and the Grenadines — 5th of 35: 62.95%

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 21 values

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

• Bahrain — 34.71% (2021)
• Egypt, Arab Rep. — 36.59% (2019)
• Israel — 23.19% (2022)
• Jordan — 16.35% (2022)
• Malta — 4.39% (2021)
• Morocco — 41.33% (2021)
• Oman — 14.07% (2021)
• Pakistan — 60.85% (2021)
• Qatar — 15.78% (2021)
• Saudi Arabia — 10.66% (2020)
• Tunisia

More trade data for Kuwait

• Binding coverage, manufactured products (%) — 99.97% (2022)
• Bound rate, simple mean, manufactured products (%) — 97.69% (2022)
• Tariff rate, applied, simple mean, manufactured products (%) — 4.71% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 4.67% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 4.21% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 4.21% (2022)
• Binding coverage, all products (%) — 99.88% (2022)
• Tariff rate, applied, simple mean, all products (%) — 4.64% (2022)
• Tariff rate, most favored nation, simple 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 Kuwait's bound rate, simple mean, all products (%)?

98.23% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 2002?

It is up 0.26 percentage points from 97.97% in 2002. The highest value was 98.32% in 2017 and the lowest 97.76% in 2003.

How does Kuwait rank?

2nd highest of 35 economies with data for 2022.

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

In 2022, Kuwait's bound rate, simple mean, all products (%) fell 0.09 percentage points on 2021 (from 98.32% to 98.23%). Across the 19 yearly changes before that (2003 to 2021), the average change was +0.02 percentage points and a typical year strayed about 0.12 percentage points from that (the standard deviation). This year's change was 0.9 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.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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