Bound rate, simple mean, primary products (%)
Definition: 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. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).
Description: The map below shows how Bound rate, simple mean, primary products (%) varies by country. The shade of the country corresponds to the magnitude of the indicator. The darker the shade, the higher the value. The country with the highest value in the world is Bangladesh, with a value of 189.43. The country with the lowest value in the world is Hong Kong SAR, China, with a value of 0.00.
Source: World Bank staff estimates using the World Integrated Trade Solution system, based on data from World Trade Organization.