Micronesia, Fed. Sts.: Taxes on goods and services (current LCU)

Key figures

What the numbers say

In 2020, Micronesia, Fed. Sts.'s taxes on goods and services (current LCU) fell 13.6% on 2019 (from 5.42 million to 4.69 million).

Across the 11 yearly changes before that (2009 to 2019), the average change was +4.3% and a typical year strayed about 8.6% from that (the standard deviation). This year's change was 2.1 standard deviations below that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 20.5% in 2018 and the biggest yearly fall was 13.6% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2011 to 2020 there is no clear straight-line trend: a straight line explains 12% 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 2020, Micronesia, Fed. Sts. had the 11th highest value of the 10 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 Micronesia, Fed. Sts. in the 2020 ranking

• St. Kitts and Nevis — 7th of 10: 148.6 million
• Palau — 8th of 10: 18.08 million
• Marshall Islands — 9th of 10: 14.36 million

What this measures

General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 13 values

Taxes on goods and services (current LCU) in nearby economies

• Australia — 110.61 billion (2022)
• Cambodia — 10.87 trillion (2023)
• China — 5.69 trillion (2024)
• Fiji — 1.69 billion (2024)
• Kiribati — 46.08 million (2023)
• Korea, Rep. — 114.81 trillion (2024)
• Lao PDR — 17.31 trillion (2022)
• Macao SAR, China — 96.35 billion (2024)
• Malaysia — 73.29 billion (2024)
• Marshall Islands — 14.36 million (2020)

More public sector data for Micronesia, Fed. Sts.

• Statistical performance indicators (SPI): Pillar 1 data use score (scale 0-100) — 20 (2024)
• Statistical performance indicators (SPI): Pillar 3 data products score (scale 0-100) — 54.85 (2024)
• Primary government expenditures as a proportion of original approved budget (%) — 111.52% (2021)
• CPIA business regulatory environment rating (1=low to 6=high) — 2 (2025)
• CPIA debt policy rating (1=low to 6=high) — 3 (2025)
• CPIA economic management cluster average (1=low to 6=high) — 2.83 (2025)
• CPIA policy and institutions for environmental sustainability rating (1=low to 6=high) — 3 (2025)

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 Micronesia, Fed. Sts.'s taxes on goods and services (current LCU)?

4.69 million in 2020, according to the World Bank (World Development Indicators).

How has it changed since 2008?

It is up 32.68% from 3.53 million in 2008 (2.38% a year on average, compounded). The highest value was 5.7 million in 2018 and the lowest 3.53 million in 2008.

How does Micronesia, Fed. Sts. rank?

11th highest of 10 economies with data for 2020.

Is the latest change in taxes on goods and services (current LCU) unusual for Micronesia, Fed. Sts.?

In 2020, Micronesia, Fed. Sts.'s taxes on goods and services (current LCU) fell 13.6% on 2019 (from 5.42 million to 4.69 million). Across the 11 yearly changes before that (2009 to 2019), the average change was +4.3% and a typical year strayed about 8.6% from that (the standard deviation). This year's change was 2.1 standard deviations below that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator GC.TAX.GSRV.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) 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.