Trinidad and Tobago: Bound rate, simple mean, all products (%)

Key figures

Since 1996 it is up 0.38 percentage points from 55.59% in 1996. The World Bank has no value for 11 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2022, Trinidad and Tobago's bound rate, simple mean, all products (%) did not change 0 percentage points on 2021 (from 55.97% to 55.97%).

Across the 10 yearly changes before that (2002 to 2021), the average change was −0.01 percentage points and a typical year strayed about 0.01 percentage points from that (the standard deviation). This year's change was 0.6 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 fall was 0.03 percentage points in 2007. The numbers show how large and when, not why; for the cause, look at what happened in that country in those 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, Trinidad and Tobago had the 9th highest value of the 35 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 Trinidad and Tobago in the 2022 ranking

• Angola — 6th of 35: 59.07%
• Guyana — 7th of 35: 57.23%
• Grenada — 8th of 35: 56.64%
• Colombia — 10th of 35: 42.84%
• Bolivia — 11th of 35: 39.98%
• Venezuela, RB — 12th of 35: 36.72%

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.

All 16 values

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

• Antigua and Barbuda — 58.75% (2021)
• Argentina — 31.78% (2022)
• Barbados — 78.93% (2022)
• Belize — 59.31% (2021)
• Bolivia — 39.98% (2022)
• Brazil — 31.47% (2022)
• Chile — 25.15% (2022)
• Colombia — 42.84% (2022)
• Costa Rica — 43.05% (2021)
• Cuba — 21.77% (2022)
• Dominica

More trade data for Trinidad and Tobago

• Import volume index (2015 = 100) — 67.8 (2024)
• Import value index (2015 = 100) — 83.1 (2024)
• Net barter terms of trade index (2015 = 100) — 122.8 (2024)
• Export volume index (2015 = 100) — 48.9 (2024)
• Export value index (2015 = 100) — 73.5 (2024)
• Tariff rate, applied, simple mean, manufactured products (%) — 7.96% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 5.39% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 6.1% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Trinidad and Tobago's bound rate, simple mean, all products (%)?

55.97% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is up 0.38 percentage points from 55.59% in 1996. The highest value was 55.97% in 2021 and the lowest 55.59% in 1996.

How does Trinidad and Tobago rank?

9th highest of 35 economies with data for 2022.

Is the latest change in bound rate, simple mean, all products (%) unusual for Trinidad and Tobago?

In 2022, Trinidad and Tobago's bound rate, simple mean, all products (%) did not change 0 percentage points on 2021 (from 55.97% to 55.97%). Across the 10 yearly changes before that (2002 to 2021), the average change was −0.01 percentage points and a typical year strayed about 0.01 percentage points from that (the standard deviation). This year's change was 0.6 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.MRCH.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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