Nicaragua: Tariff rate, applied, simple mean, all products (%)

Key figures

What the numbers say

In 2022, Nicaragua's tariff rate, applied, simple mean, all products (%) fell 0.06 percentage points on 2021 (from 3.04% to 2.98%).

Across the 26 yearly changes before that (1996 to 2021), the average change was −0.18 percentage points and a typical year strayed about 1.69 percentage points from that (the standard deviation). This year's change was 0.1 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 4.15 percentage points in 1999 and the biggest yearly fall was 6.01 percentage points in 2000. 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 downward, about 0.11 percentage points a year. A straight line explains 97% of the movement over 10 observed years.

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

A straight-line projection, tested first

Extending that straight line gives about 2.51% for 2025. We show this only because the same method, fitted on earlier years, predicted 2020 to 2022 better than "no change" would have: its average miss was 0.09%, against 0.14% for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2022, Nicaragua had the 87th highest value of the 139 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 Nicaragua in the 2022 ranking

• Guatemala — 85th of 139: 3.12%
• El Salvador — 86th of 139: 3.09%
• Myanmar — 87th of 139: 2.98%
• United States — 89th of 139: 2.72%
• Mexico — 90th of 139: 2.69%
• Costa Rica — 91st of 139: 2.63%

What this measures

Simple mean applied tariff is the unweighted average of effectively applied rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups. Effectively applied tariff rates at the six- and eight-digit product level are averaged for products in each commodity group. When the effectively applied rate is unavailable, the most favored nation rate is used instead. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of simple mean tariffs.

All 28 values

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

• Antigua and Barbuda — 12.39% (2021)
• Argentina — 11.95% (2022)
• Bahamas, The — 26.31% (2022)
• Barbados — 11.87% (2022)
• Belize — 12.02% (2022)
• Bolivia — 9.83% (2022)
• Brazil — 13.29% (2022)
• Chile — 1.03% (2022)
• Colombia — 3.55% (2022)
• Costa Rica

More trade data for Nicaragua

• Binding coverage, manufactured products (%) — 0% (2022)
• Tariff rate, applied, simple mean, manufactured products (%) — 2.89% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 4.81% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 2.34% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 7.1% (2022)
• Binding coverage, all products (%) — 0% (2022)
• Tariff rate, most favored nation, simple mean, all products (%) — 5.66% (2022)
• Tariff rate, applied, weighted mean, all products (%) — 2.04% (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 Nicaragua's tariff rate, applied, simple mean, all products (%)?

2.98% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1995?

Source

World Bank, World Development Indicators, indicator TM.TAX.MRCH.SM.AR.ZS, licensed CC BY 4.0. Original source: Staff estimates; World Integrated Trade Solution system (WITS), World Bank (WB); Trade Analysis and Information System (TRAINS), UN Conference on Trade and Development (UNCTAD); Integrated Data Base (IDB), World Trade Organization (WTO); Consolidated Tariff Schedules (CTS), World Trade Organization… 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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