Sri Lanka: Binding coverage, all products (%)

Key figures

Since 1997 it is down 0.15 percentage points from 40.71% in 1997. The World Bank has no value for 4 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2021, Sri Lanka's binding coverage, all products (%) did not change 0 percentage points on 2020 (from 40.56% to 40.56%).

Across the 15 yearly changes before that (1998 to 2020), the average change was +0.15 percentage points and a typical year strayed about 0.59 percentage points from that (the standard deviation). This year's change was 0.3 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 2.23 percentage points in 2012 and the biggest yearly fall was 0.21 percentage points in 1998. 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 0.01 percentage points a year. A straight line explains 37% of the movement over 8 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, Sri Lanka had the 9th highest value of the 12 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 Sri Lanka in the 2021 ranking

• Kyrgyz Republic — 6th of 12: 99.92%
• Antigua and Barbuda — 7th of 12: 97.5%
• Fiji — 8th of 12: 51.52%
• Malawi — 10th of 12: 33.93%
• Zimbabwe — 11th of 12: 24.39%
• Mozambique — 12th of 12: 14.92%

What this measures

Binding coverage is the percentage of product lines with an agreed bound rate. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable.

All 21 values

Binding coverage, all products (%) in nearby economies

• Bangladesh — 17.32% (2022)
• India — 0% (2022)
• Maldives — 0% (2022)
• Nepal — 0% (2022)

More trade data for Sri Lanka

• Tariff rate, applied, simple mean, manufactured products (%) — 4.36% (2021)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 4.12% (2021)
• Tariff rate, applied, weighted mean, manufactured products (%) — 2% (2021)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 2.37% (2021)
• Tariff rate, applied, simple mean, all products (%) — 5.73% (2021)
• Tariff rate, most favored nation, simple mean, all products (%) — 6.45% (2021)
• Tariff rate, applied, weighted mean, all products (%) — 4.36% (2021)
• Tariff rate, most favored nation, weighted mean, all products (%) — 4.68% (2021)

Reading data like this

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Questions people ask

What is Sri Lanka's binding coverage, all products (%)?

40.56% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1997?

It is down 0.15 percentage points from 40.71% in 1997. The highest value was 40.71% in 1997 and the lowest 38.15% in 2003.

How does Sri Lanka rank?

9th highest of 12 economies with data for 2021.

Is the latest change in binding coverage, all products (%) unusual for Sri Lanka?

In 2021, Sri Lanka's binding coverage, all products (%) did not change 0 percentage points on 2020 (from 40.56% to 40.56%). Across the 15 yearly changes before that (1998 to 2020), the average change was +0.15 percentage points and a typical year strayed about 0.59 percentage points from that (the standard deviation). This year's change was 0.3 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.BC.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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