Micronesia: Taxes on international trade
* indicates monthly or quarterly data series
| Micronesia |
Taxes on international trade, percent of total revenue |
|---|---|
| Latest value | 4.50 |
| Year | 2020 |
| Measure | percent |
| Data availability | 2008 - 2020 |
| Average | 4.16 |
| Min - Max | 2.96 - 6.62 |
| Source | The World Bank |
The latest value from 2020 is 4.5 percent, an increase from 3.25 percent in 2019. In comparison, the world average is 6.64 percent, based on data from 99 countries. Historically, the average for Micronesia from 2008 to 2020 is 4.16 percent. The minimum value, 2.96 percent, was reached in 2018 while the maximum of 6.62 percent was recorded in 2008.
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Definition: Taxes on international trade include import duties, export duties, profits of export or import monopolies, exchange profits, and exchange taxes.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 58.31 | 1983 | percent |
| Government spending, in dollars | 0.06 | 1983 | billion U.S. dollars |
| Fiscal balance, percent of GDP | 4.46 | 2021 | percent |
| Government debt | 17.03 | 2021 | percent |
| Tax revenue | 6.43 | 2020 | percent |
| Commercial tax rate | 60.50 | 2019 | percent |
| Tax preparation time | 128 | 2019 | hours |
| Number of taxes | 21 | 2019 | taxes |
| Taxes on goods and services | 3.40 | 2020 | percent |
| Taxes on international trade | 4.50 | 2020 | percent |
| Income and profits taxes | 10.94 | 2020 | percent |
| Foreign aid | 130.76 | 2021 | million U.S. dollars |