Tariff rate, applied, simple mean, manufactured products (%)

Among the listed countries, Brunei has the lowest applied tariff rate for manufactured products at 0.17%, offering a competitive advantage for international trade. Japan and Australia follow with relatively low rates of 1.13% and 2.09% respectively, enhancing their attractiveness for foreign investments. Conversely, Cambodia and Indonesia have higher tariffs of 8.05% and 6.32% respectively, which may hinder their competitiveness in the global market. This statistic indicates favorable conditions for Brunei and Japan in terms of trade partnerships and economic growth potential, while countries like Cambodia and Indonesia may face challenges in attracting foreign investments and expanding their manufacturing sectors.

Brunei has the lowest applied tariff rate on manufactured products at 0.17%, indicating a very open trade policy. Cambodia, Indonesia, Malaysia, and Vietnam have higher rates ranging from 5.31% to 8.05%, reflecting a moderate level of protectionism. Laos and the Philippines fall in between with rates of 2.75% and 3.25% respectively. Brunei's low tariff rate can attract foreign investment and promote economic growth but may also make domestic industries vulnerable. Meanwhile, higher tariff rates in Cambodia, Indonesia, Malaysia, and Vietnam protect domestic industries but could hinder international trade and foreign investment. Finding the right balance in tariff rates is crucial for these countries to foster economic development and ensure competitiveness in the global market.

Argentina, Brazil, Cuba, Uruguay, and Venezuela stand out with higher applied tariff rates on manufactured products, ranging from 10.20% to 14.61%. In contrast, Chile and Peru have notably lower tariffs at 1.02% and 1.20% respectively. This variation can influence the competitiveness of domestic industries, with higher tariffs protecting local producers but potentially raising consumer prices. Countries with lower tariffs may attract more foreign investment due to reduced trade barriers, fostering economic growth but also exposing domestic industries to more competition. Each country must carefully balance the advantages of protecting domestic industries with the benefits of promoting trade and attracting foreign investment to ensure sustainable economic development.

When analyzing the applied tariff rates on manufactured products, it is evident that Canada, Australia, New Zealand, and the United States have relatively low rates ranging from 1.47% to 2.92%, indicating a more open trade policy. On the other hand, Brazil, India, South Africa, and China have significantly higher rates, with Brazil at 14.11% and India at 8.18%. The Russian Federation falls in the middle at 4.95%. Lower tariffs can attract foreign investment and boost economic growth but may harm domestic industries. Higher tariffs protect domestic producers but can limit access to new technologies and international markets, hindering overall economic development for these countries.

Looking at the data for the Tariff Rate applied on manufactured products, we see that the Russian Federation has a tariff rate of 4.95% while Ukraine has a lower rate of 2.02%. The higher tariff rate in Russia may indicate a more protective trade policy for its manufacturing sector compared to Ukraine, which could potentially shield domestic industries but may also lead to higher prices for consumers due to limited competition. On the other hand, Ukraine's lower tariff rate suggests a more open approach to international trade, encouraging foreign investment and potentially fostering greater economic diversity. These differences in tariff rates could impact the development of each country by influencing the competitiveness of their manufactured goods in the global market and shaping their trade relations with other nations.

France has a relatively low average applied tariff rate on manufactured products at 1.6%, indicating a more open trade policy. In comparison, the United Kingdom has a slightly higher tariff rate of 1.82%. France's lower tariff provides advantages such as cheaper imports, fostering international trade relationships, and potentially boosting consumer choices. However, it could also expose domestic industries to more competition. On the other hand, the United Kingdom's slightly higher tariff may offer protection to domestic industries but could lead to higher prices for consumers. This statistic demonstrates each country's approach to trade policy and can impact their economic development by influencing competitiveness, industry growth, and international trade dynamics.

Iran applies a simple mean tariff rate of 15.6% on manufactured products, while Saudi Arabia applies a rate of 4.68%. This indicates that Iran imposes a significantly higher tariff on manufactured goods compared to Saudi Arabia. Iran's higher tariff may protect its domestic industries but could also limit foreign investment and access to international markets, potentially hindering economic growth. On the other hand, Saudi Arabia's lower tariff may attract more foreign investment and promote trade, supporting economic diversification and growth. However, it may also expose domestic industries to greater competition. Overall, the tariff rate applied on manufactured products plays a crucial role in shaping each country's economic development trajectory and trade relations.

India and Pakistan have different applied tariff rates on manufactured products, with India at 8.18% and Pakistan at 12.04%. Pakistan imposes a higher tariff rate compared to India, which could potentially protect its domestic industries but may also limit access to foreign markets and slow down economic growth due to reduced trade. On the other hand, India's lower tariff rate could attract more foreign investment and foster greater international trade relationships, promoting economic development. However, it may also expose domestic industries to more competition, potentially affecting local businesses negatively. The applied tariff rates for manufactured products in both countries play a crucial role in shaping their trade dynamics, competitiveness, and overall economic progress.

With Greece having a simple mean applied tariff rate of 1.6% for manufactured products, and Turkey at 1.38%, it is evident that both countries maintain relatively low tariff rates in this sector. Greece's slightly higher tariff rate may provide a small advantage in terms of protecting domestic manufacturing industries compared to Turkey. However, Turkey's lower tariff rate can attract more foreign investment and foster greater international trade opportunities. For Greece, the advantage lies in shielding domestic industries, but it may deter foreign investment. On the other hand, Turkey's lower rate can stimulate economic growth through increased trade but may leave its industries more exposed to global competition. Overall, this statistic suggests that both countries have strategically balanced their tariff rates to either protect domestic industries or promote international trade, reflecting differing priorities in economic development.

China, People's Republic of applies a simple mean tariff rate of 5.13% on manufactured products, while Japan applies a lower rate of 1.13%. China's higher tariff rate indicates a more protectionist approach to its domestic industry, aiming to shield local manufacturers from international competition. This can provide short-term advantages like safeguarding jobs but may lead to inefficiencies and higher prices for consumers. On the other hand, Japan's lower tariff rate promotes international trade and access to a wider variety of products, fostering competition and potential innovation. This can drive economic growth in the long run but may also expose domestic industries to intense global competition. The impact of this statistic on the countries' development is significant, influencing their trade dynamics, industrial competitiveness, and overall economic growth.