Taxes on goods and services in Micronesia, Federated States of
Micronesia, Federated States of: Taxes on goods and services was 3.4% in 2020. ▼ Falling
Taxes on goods and services in Micronesia, Federated States of, 2008–2020
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2020, taxes on goods and services in Micronesia, Federated States of stood at 3.4%.
The figure is up 17.5% on the previous year and down 17.6% over ten years.
Over the whole period, taxes on goods and services in Micronesia, Federated States of peaked at 5.7% in 2008 and was at its lowest, 2.8%, in 2018.
Micronesia, Federated States of ranks 152nd of 156 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 13 years of available data.
Taxes on goods and services in Micronesia, Federated States of, year by year
| Year | % of revenue | Change |
|---|---|---|
| 2008 | 5.7% | — |
| 2009 | 4.5% | -21.5% |
| 2010 | 4.1% | -8.0% |
| 2011 | 4.5% | +10.0% |
| 2012 | 4.2% | -7.6% |
| 2013 | 4.8% | +15.5% |
| 2014 | 3.9% | -19.4% |
| 2015 | 3.9% | +0.3% |
| 2016 | 3.4% | -12.4% |
| 2017 | 2.8% | -19.3% |
| 2018 | 2.8% | -0.1% |
| 2019 | 2.9% | +4.7% |
| 2020 | 3.4% | +17.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 5.1% | 4.5% | 5.7% | 2 |
| 2010s | 3.7% | 2.8% | 4.8% | 10 |
| 2020s | 3.4% | 3.4% | 3.4% | 1 |
Countries ranked near Micronesia, Federated States of
- 149 Timor-Leste 5.4% compare
- 150 Equatorial Guinea 4.0% compare
- 151 Iran, Islamic Republic of 3.5%
- 153 Naoero 2.7% compare
- 154 United States of America 2.1% compare
- 155 Iraq 0.4% compare
More public sector data for Micronesia, Federated States of
- Arms imports 7.00 million SIPRI trend indicator values (2023)
- Arms imports (SIPRI trend indicator values), per capita 62.15 SIPRI trend indicator values per person (2023)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0158 SIPRI trend indicator values per US$ of GDP (2023)
- Arms imports (SIPRI trend indicator values), gaps filled 7.00 million SIPRI trend indicator values (2023)
- Tax revenue 7.0% (2020)
- Taxes on income, profits and capital gains 10.9% (2020)
- Net investment in nonfinancial assets 10.5% (2020)
- Net lending (+) / net borrowing (-) 6.9% (2020)
- Interest payments 0.4% (2020)
- Grants and other revenue 81.0% (2020)
Frequently asked questions
- What is taxes on goods and services in Micronesia, Federated States of?
- Taxes on goods and services in Micronesia, Federated States of was 3.4% in 2020, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Micronesia, Federated States of?
- The highest recorded value was 5.7% in 2008.
- What is the lowest taxes on goods and services recorded in Micronesia, Federated States of?
- The lowest recorded value was 2.8% in 2018.
- How does Micronesia, Federated States of rank for taxes on goods and services?
- Micronesia, Federated States of ranks 152nd out of 156 countries with data for 2020.
- Is taxes on goods and services rising or falling in Micronesia, Federated States of?
- Over the last ten years it is down 17.6%. The long-run trend across the full record is falling.
- Where does this Micronesia, Federated States of data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% of revenue). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 13 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.