St. Vincent and the Grenadines: Customs and other import duties (current LCU)

Key figures

What the numbers say

In 2017, St. Vincent and the Grenadines' customs and other import duties (current LCU) rose 12.2% on 2016 (from 62.61 million to 70.26 million).

Across the 26 yearly changes before that (1991 to 2016), the average change was +2.2% and a typical year strayed about 19.4% from that (the standard deviation). This year's change was 0.5 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 62.1% in 2014 and the biggest yearly fall was 40.8% in 2007. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2008 to 2017 the straight-line trend is upward, about 3.63 million a year. A straight line explains 57% 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.

Closest to St. Vincent and the Grenadines in the 2017 ranking

• Afghanistan — 1st of 3: 44.79 billion
• St. Lucia — 3rd of 3: 6 million

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 28 values

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

• Argentina — 3.64 trillion (2024)
• Bahamas, The — 258.45 million (2024)
• Barbados — 245.19 million (2016)
• Brazil — 77.49 billion (2024)
• Chile — 671.1 billion (2024)
• Colombia — 6.06 trillion (2024)
• Costa Rica — 187.49 billion (2024)
• Dominican Republic — 60.11 billion (2024)
• Ecuador — 1.27 billion (2022)
• El Salvador

More public sector data for St. Vincent and the Grenadines

• Intentional homicides (per 100,000 people) — 51.32 (2023)
• Grants and other revenue (current LCU) — 68.92 million (2017)
• Grants and other revenue (% of revenue) — 11.27% (2017)
• Revenue, excluding grants (current LCU) — 582.62 million (2017)
• Revenue, excluding grants (% of GDP) — 25.57% (2017)
• Taxes on goods and services (current LCU) — 265.65 million (2017)
• Taxes on goods and services (% of revenue) — 43.46% (2017)
• Taxes on goods and services (% of industry and services value added) — 14.92% (2017)

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Questions people ask

What is St. Vincent and the Grenadines's customs and other import duties (current LCU)?

70.26 million in 2017, according to the World Bank (World Development Indicators).

How has it changed since 1990?

It is up 20.51% from 58.3 million in 1990 (0.69% a year on average, compounded). The highest value was 128.2 million in 2006 and the lowest 46.13 million in 2008.

Is the latest change in customs and other import duties (current LCU) unusual for St. Vincent and the Grenadines?

In 2017, St. Vincent and the Grenadines' customs and other import duties (current LCU) rose 12.2% on 2016 (from 62.61 million to 70.26 million). Across the 26 yearly changes before that (1991 to 2016), the average change was +2.2% and a typical year strayed about 19.4% from that (the standard deviation). This year's change was 0.5 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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