Venezuela - Tariff rate, most favored nation, weighted mean, primary products (%)

Tariff rate, most favored nation, weighted mean, primary products (%) in Venezuela was 22.59 as of 2020. Its highest value over the past 28 years was 22.79 in 2018, while its lowest value was 12.07 in 1995.

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

Source: World Bank staff estimates using the World Integrated Trade Solution system, based on data from United Nations Conference on Trade and Development's Trade Analysis and Information System (TRAINS) database and the World Trade Organization’s (WTO) Integrate

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Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Tariffs