Slovak Republic: Bound rate, simple mean, primary products (%)

Key figures

What the numbers say

In 2021, Slovak Republic's bound rate, simple mean, primary products (%) did not change 0 percentage points on 2020 (from 5.75% to 5.75%).

Across the 16 yearly changes before that (2005 to 2020), the average change was −0.42 percentage points and a typical year strayed about 1.34 percentage points from that (the standard deviation). This year's change was 0.3 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 0.79 percentage points in 2005 and the biggest yearly fall was 5.3 percentage points in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is downward, about 0.7 percentage points a year. A straight line explains 65% 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 2021, Slovak Republic had the 66th 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 Slovak Republic in the 2021 ranking

• Poland — 84th of 99: 5.75%
• Portugal — 85th of 99: 5.75%
• Romania — 86th of 99: 5.75%
• Slovenia — 88th of 99: 5.75%
• Spain — 89th of 99: 5.75%
• Sweden — 90th of 99: 5.75%

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. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).

All 18 values

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

• Albania — 6.32% (2021)
• Armenia — 11.93% (2021)
• Austria — 5.75% (2021)
• Belgium — 5.75% (2021)
• Bulgaria — 5.75% (2021)
• Cyprus — 5.75% (2021)
• Czechia — 5.75% (2021)
• Denmark — 5.75% (2021)
• Estonia — 5.75% (2021)
• Finland — 5.75% (2021)

More trade data for Slovak Republic

• Import volume index (2015 = 100) — 94.1 (2024)
• Binding coverage, manufactured products (%) — 0% (2022)
• Tariff rate, applied, simple mean, manufactured products (%) — 1.44% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 4.03% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 1.64% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 3.24% (2022)
• Binding coverage, all products (%) — 0% (2022)
• Tariff rate, applied, simple mean, all products (%) — 1.95% (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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Questions people ask

What is Slovak Republic's bound rate, simple mean, primary products (%)?

5.75% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 2004?

It is down 6.77 percentage points from 12.52% in 2004. The highest value was 13.31% in 2005 and the lowest 5.75% in 2017.

How does Slovak Republic rank?

66th highest of 99 economies with data for 2021.

Is the latest change in bound rate, simple mean, primary products (%) unusual for Slovak Republic?

In 2021, Slovak Republic's bound rate, simple mean, primary products (%) did not change 0 percentage points on 2020 (from 5.75% to 5.75%). Across the 16 yearly changes before that (2005 to 2020), the average change was −0.42 percentage points and a typical year strayed about 1.34 percentage points from that (the standard deviation). This year's change was 0.3 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.TCOM.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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