Viet Nam: Binding coverage, primary products (%)

Key figures

What the numbers say

In 2022, Viet Nam's binding coverage, primary products (%) did not change 0 percentage points on 2021 (from 80.2% to 80.2%).

Across the 12 yearly changes before that (2008 to 2021), the average change was −0.04 percentage points and a typical year strayed about 0.27 percentage points from that (the standard deviation). This year's change was 0.2 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 0.38 percentage points in 2018 and the biggest yearly fall was 0.83 percentage points in 2008. 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 0.05 percentage points a year. A straight line explains 71% 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 2022, Viet Nam had the 28th highest value of the 130 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 Viet Nam in the 2022 ranking

• Israel — 25th of 130: 88.8%
• Singapore — 26th of 130: 85.61%
• Barbados — 27th of 130: 83.78%
• Philippines — 29th of 130: 65.65%
• Mauritania — 30th of 130: 58.64%
• Myanmar — 31st of 130: 58.49%

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

All 15 values

Binding coverage, primary products (%) in nearby economies

• Australia — 0% (2022)
• Brunei Darussalam — 98.1% (2022)
• Cambodia — 0% (2022)
• China — 0% (2022)
• Fiji — 55.67% (2021)
• Hong Kong SAR, China — 0% (2022)
• Indonesia — 0% (2022)
• Japan — 0% (2022)
• Korea, Rep. — 0% (2022)
• Macao SAR, China — 0% (2022)
• Malaysia

More trade data for Viet Nam

• Tariff rate, applied, simple mean, manufactured products (%) — 3.44% (2022)
• Tariff rate, most favored nation, simple mean, manufactured products (%) — 8.66% (2022)
• Tariff rate, applied, weighted mean, manufactured products (%) — 0.82% (2022)
• Tariff rate, most favored nation, weighted mean, manufactured products (%) — 4.71% (2022)
• Tariff rate, applied, simple mean, all products (%) — 3.71% (2022)
• Tariff rate, most favored nation, simple mean, all products (%) — 9.65% (2022)
• Tariff rate, applied, weighted mean, all products (%) — 1.07% (2022)
• Tariff rate, most favored nation, weighted mean, all products (%) — 4.98% (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 Viet Nam's binding coverage, primary products (%)?

80.2% in 2022, according to the World Bank (World Development Indicators).

How has it changed since 2007?

It is down 12.43 percentage points from 92.63% in 2007. The highest value was 92.63% in 2007 and the lowest 79.88% in 2012.

How does Viet Nam rank?

28th highest of 130 economies with data for 2022.

Is the latest change in binding coverage, primary products (%) unusual for Viet Nam?

In 2022, Viet Nam's binding coverage, primary products (%) did not change 0 percentage points on 2021 (from 80.2% to 80.2%). Across the 12 yearly changes before that (2008 to 2021), the average change was −0.04 percentage points and a typical year strayed about 0.27 percentage points from that (the standard deviation). This year's change was 0.2 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.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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