St. Vincent and the Grenadines: Tariff rate, most favored nation, weighted mean, all products (%)

Key figures

What the numbers say

In 2022, St. Vincent and the Grenadines' tariff rate, most favored nation, weighted mean, all products (%) fell 0.51 percentage points on 2021 (from 13.1% to 12.59%).

Across the 14 yearly changes before that (2000 to 2021), the average change was +0.36 percentage points and a typical year strayed about 1.96 percentage points from that (the standard deviation). This year's change was 0.4 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 6.13 percentage points in 2007 and the biggest yearly fall was 2.54 percentage points in 2001. 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 upward, about 0.16 percentage points a year. A straight line explains 34% of the movement over 9 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 2022, St. Vincent and the Grenadines had the 23rd 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 St. Vincent and the Grenadines in the 2022 ranking

• Uganda — 20th of 139: 12.81%
• Cabo Verde — 21st of 139: 12.71%
• Ghana — 22nd of 139: 12.7%
• Nepal — 24th of 139: 12.44%
• Mali — 25th of 139: 11.95%
• Maldives — 26th of 139: 11.78%

What this measures

Weighted mean most favored nations tariff is the average of most favored nation rates weighted by the product import shares corresponding to each partner country. 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 and import weights. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database.

All 20 values

Tariff rate, most favored nation, weighted mean, all products (%) in nearby economies

• Antigua and Barbuda — 14.72% (2021)
• Argentina — 10.29% (2022)
• Bahamas, The — 16.34% (2022)
• Barbados — 18.36% (2022)
• Belize — 20% (2022)
• Bolivia — 9.9% (2022)
• Brazil — 9.06% (2022)
• Chile — 5.99% (2022)
• Colombia — 7.06% (2022)

More trade data for St. Vincent and the Grenadines

• Import volume index (2015 = 100) — 132 (2024)
• Binding coverage, manufactured products (%) — 99.97% (2022)
• Bound rate, simple mean, manufactured products (%) — 53.9% (2022)
• Tariff rate, applied, simple mean, manufactured products (%) — 7.71% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 8.61% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 9.46% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 11.52% (2022)
• Binding coverage, all products (%)

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 St. Vincent and the Grenadines's tariff rate, most favored nation, weighted mean, all products (%)?

12.59% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is down 4.86 percentage points from 17.45% in 1996. The highest value was 17.45% in 1996 and the lowest 5.96% in 2006.

How does St. Vincent and the Grenadines rank?

23rd highest of 139 economies with data for 2022.

Source

World Bank, World Development Indicators, indicator TM.TAX.MRCH.WM.FN.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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