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

The weighted mean applied tariff rates for manufactured products vary among the listed countries, ranging from 0.14% in Switzerland to 4.09% in the Russian Federation. Lower rates, such as those in Norway and Switzerland, can attract foreign investment and promote competitiveness in manufacturing. However, higher rates, like in the Russian Federation, may protect domestic industries but can also lead to reduced international trade. Countries with moderate rates, like the majority of the European Union members, strike a balance between protectionism and global engagement. The impact of these tariff rates on each country's development lies in their ability to influence trade dynamics, industrial growth, and foreign relations.

Among the listed countries, Cambodia has the highest applied tariff rate on manufactured products at 6.8%, potentially impacting its ability to attract foreign investment and promote economic growth. On the other hand, Brunei has the lowest rate at 0.03%, which may signal a more open trade policy to stimulate economic diversification. Countries like Malaysia and Mongolia fall on the higher end of the spectrum with rates above 3%, potentially protecting domestic industries but also risking higher consumer prices. Lower rates in countries like Laos and Australia may indicate a more liberal trade approach, encouraging competitiveness but possibly exposing local industries to international competition. Overall, these tariff rates play a crucial role in shaping each country's trade environment, influencing industrial development, foreign investment, and consumer prices.

Brunei has the lowest applied tariff rate for manufactured products at 0.03%, indicating a very open trade policy. In contrast, Cambodia has the highest rate among the listed countries at 6.8%, potentially impacting its competitiveness in the manufacturing sector. Indonesia, Malaysia, the Philippines, and Vietnam have moderate tariff rates ranging from 1.01% to 3.85%, showing a balanced approach to trade. Laos falls in between with a rate of 0.91%. Lower tariffs can attract foreign investment and enhance import diversity but may harm local industries. Higher tariffs can protect domestic industries but might limit access to new technologies and inhibit economic growth.

Argentina, Brazil, and Venezuela have the highest applied tariff rates among the listed countries, indicating a higher level of protectionism in their manufacturing sectors. This could potentially shield domestic industries but might also lead to higher consumer prices and inefficiencies. On the other hand, Chile and Peru have significantly lower tariff rates, promoting trade openness and potentially attracting foreign investments. Countries like Costa Rica and El Salvador strike a balance with moderate tariff rates. The impact of these tariff rates on development varies; high tariffs can protect local industries but also limit competition and innovation, while low tariffs can boost imports, technology transfer, and economic growth but might hurt domestic producers.

Analysis of the weighted mean applied tariff rates for manufactured products among selected countries reveals a wide variation in trade policies. Iran stands out with a high tariff rate of 12.83%, indicating a more protectionist trade approach, potentially shielding domestic industries but risking higher consumer prices and reduced international competitiveness. In contrast, Georgia has a minimal rate of 0.04%, signaling an open economy with easier access to foreign goods but potentially exposing local industries to intense competition. Each country's tariff rate reflects its trade strategy, impacting economic development by influencing investment decisions, market accessibility, and overall growth prospects.

Australia maintains a low weighted mean applied tariff rate of 0.75% on manufactured products, positioning itself favorably for global trade. Brazil, India, and South Africa exhibit significantly higher tariff rates at 9.55%, 6.72%, and 5.03% respectively, potentially hindering their competitiveness in international markets. The United States and China have moderate rates of 1.55% and 2.74% respectively. This statistic impacts development by influencing trade dynamics; lower tariffs can attract foreign investment and spur economic growth, while higher tariffs could protect domestic industries but may lead to retaliation. Each country must balance the advantages of trade openness with protecting domestic markets when considering tariff policies.

For the Tariff rate on manufactured products, the Russian Federation has an applied weighted mean tariff of 4.09%, while Ukraine has a lower rate of 1.94%. This indicates that the Russian Federation imposes higher tariffs on manufactured products compared to Ukraine. The higher tariff in Russia may provide protection for domestic industries but could also lead to higher prices for consumers and reduced competitiveness. Conversely, Ukraine's lower tariff may attract more foreign investment and promote economic growth through increased trade. The impact of this statistic suggests that Russia may prioritize domestic industrial development, potentially leading to self-sufficiency but at the cost of limiting international trade opportunities. On the other hand, Ukraine's lower tariffs may encourage foreign investment and market competitiveness, fostering economic integration and growth.

France has a relatively low weighted mean applied tariff rate of 1.8% for manufactured products, indicating a more open trade policy compared to the United Kingdom, which has a higher rate of 2.07%. This suggests that France may have a more competitive market for manufactured goods, attracting foreign investment and fostering international trade partnerships. However, a potential downside for France could be increased competition impacting local industries negatively. For the United Kingdom, the higher tariff rate may offer protection for domestic industries but could also lead to higher prices for consumers due to limited competition. Overall, this statistic reflects each country's trade policy stance and can significantly influence their economic development and competitiveness in the global market.

Iran has a higher weighted mean applied tariff rate for manufactured products at 12.83% compared to Saudi Arabia's rate of 4.2%. This indicates that Iran imposes higher trade barriers on imported manufactured goods than Saudi Arabia does. The advantage for Iran is that higher tariffs can protect domestic industries from foreign competition, potentially fostering industrial growth. However, this could also lead to higher prices for consumers and limited access to a variety of imported manufactured goods. On the other hand, Saudi Arabia's lower tariff rate may attract more foreign investments and promote international trade, benefiting the country's economic diversification efforts. Overall, this statistic suggests that while Iran prioritizes protectionism, Saudi Arabia leans towards openness to trade, which can significantly influence their economic development trajectories.

India has a relatively low applied weighted mean tariff rate of 6.72% for manufactured products, indicating a more open stance towards trade. This could attract foreign investment and encourage domestic manufacturing growth but may also expose local industries to stronger international competition. In contrast, Pakistan has a higher applied weighted mean tariff rate of 10.99%, potentially protecting domestic industries but also limiting exposure to new technologies and investment. This difference suggests that India may prioritize integration into global value chains while Pakistan leans towards protectionism. India's approach could lead to increased efficiency and innovation but also risks deindustrialization, while Pakistan's strategy may safeguard local industries but hinder overall economic competitiveness in the long run.

For the applied weighted mean tariff rate on manufactured products, Greece imposes a rate of 1.8% while Turkey applies a slightly lower rate of 1.34%. Greece's higher tariff rate may provide protection for its domestic industries but could lead to higher prices for imported goods, potentially impacting consumer purchasing power. On the other hand, Turkey's lower rate may attract more foreign investment and promote trade but could also expose domestic industries to greater competition. This statistic suggests that Greece prioritizes protecting its industries, possibly hindering trade openness, while Turkey aims for a more open approach to trade, emphasizing competitiveness and investment attraction.

China, People's Republic of applies a weighted mean tariff rate of 2.74% on manufactured products, while Japan applies a lower rate of 1.12%. This indicates that China imposes higher tariffs on such goods compared to Japan. China's higher tariff rate may provide protection for its domestic industries, fostering local production but potentially leading to higher prices for consumers. On the other hand, Japan's lower tariff rate can make imported goods more affordable, stimulating consumer choice and competition but possibly affecting domestic producers. This statistic suggests that China may prioritize self-sufficiency and protectionism, whereas Japan leans towards openness and international trade. The implications for China could mean slower economic growth due to reduced external competition, while Japan may benefit from a wider variety of goods and technological advancements.