Palau: Customs and other import duties (current LCU)

Key figures

What the numbers say

In 2020, Palau's customs and other import duties (current LCU) rose 17.4% on 2019 (from 12.89 million to 15.13 million).

Across the 11 yearly changes before that (2009 to 2019), the average change was +5.6% and a typical year strayed about 16% from that (the standard deviation). This year's change was 0.7 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 30.1% in 2012 and the biggest yearly fall was 14.9% in 2009. 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 the straight-line trend is upward, about 872,714 a year. A straight line explains 72% 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.

How it compares

In 2020, Palau had the 7th 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 Palau in the 2020 ranking

• Honduras — 4th of 10: 3.44 billion
• Bhutan — 5th of 10: 468 million
• St. Kitts and Nevis — 6th of 10: 84.6 million
• Marshall Islands — 8th of 10: 9.27 million
• Micronesia, Fed. Sts. — 9th of 10: 6.2 million
• Croatia — 10th of 10: 61,000

What this measures

Taxes and duties on imports are taxes on goods and services that become payable at the moment when goods enter the economic territory or when services are delivered by non-resident producers to residents. 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

Customs and other import duties (current LCU) in nearby economies

• Australia — 16.95 billion (2022)
• Cambodia — 2.39 trillion (2023)
• China — 250.94 billion (2024)
• Fiji — 380.09 million (2024)
• Kiribati — 1.79 million (2023)
• Korea, Rep. — 7.02 trillion (2024)
• Lao PDR — 2.18 trillion (2022)
• Malaysia — 3.07 billion (2024)
• Marshall Islands — 9.27 million (2020)
• Micronesia, Fed. Sts.

More public sector data for Palau

• Statistical performance indicators (SPI): Pillar 1 data use score (scale 0-100) — 70 (2024)
• Statistical performance indicators (SPI): Pillar 3 data products score (scale 0-100) — 62.36 (2024)
• Net acquisition of financial assets (current LCU) — 27.91 million (2020)
• Net acquisition of financial assets (% of GDP) — 10.78% (2020)
• Net incurrence of liabilities, total (current LCU) — 52.56 million (2020)
• Net incurrence of liabilities, total (% of GDP) — 20.29% (2020)
• Net investment in nonfinancial assets (current LCU) — 16.56 million (2020)
• Net investment in nonfinancial assets (% of GDP) — 6.39% (2020)
• Net lending (+) / net borrowing (-) (current LCU)

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 Palau's customs and other import duties (current LCU)?

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

How has it changed since 2008?

It is up 91.2% from 7.92 million in 2008 (5.55% a year on average, compounded). The highest value was 15.42 million in 2016 and the lowest 6.74 million in 2009.

How does Palau rank?

7th highest of 10 economies with data for 2020.

Is the latest change in customs and other import duties (current LCU) unusual for Palau?

In 2020, Palau's customs and other import duties (current LCU) rose 17.4% on 2019 (from 12.89 million to 15.13 million). Across the 11 yearly changes before that (2009 to 2019), the average change was +5.6% and a typical year strayed about 16% from that (the standard deviation). This year's change was 0.7 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 GC.TAX.IMPT.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.

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