Taxes on goods and services (% value added of industry and services) in Micronesia (country)
Micronesia (country): Taxes on goods and services (% value added of industry and services) was 1.7% in 2020. ▼ Falling
Taxes on goods and services in Micronesia (country), 2008–2020
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % value added of industry and services.
Analysis
The most recent figure for taxes on goods and services in Micronesia (country) is 1.7%, measured in 2020. That is the lowest value across all 13 years on record.
The figure is down 9.8% on the previous year and down 20.0% over ten years.
Over the whole period, taxes on goods and services in Micronesia (country) peaked at 2.4% in 2012 and was at its lowest, 1.7%, in 2020.
That places Micronesia (country) 149th out of 154 countries with data for 2020, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 13 years of available data.
Taxes on goods and services (% value added of industry and services) in Micronesia (country), year by year
| Year | % value added of industry and services | Change |
|---|---|---|
| 2008 | 2.0% | — |
| 2009 | 2.1% | +6.1% |
| 2010 | 2.2% | +2.2% |
| 2011 | 2.3% | +4.5% |
| 2012 | 2.4% | +4.1% |
| 2013 | 2.3% | -2.0% |
| 2014 | 2.0% | -12.5% |
| 2015 | 2.1% | +1.4% |
| 2016 | 2.0% | -2.5% |
| 2017 | 2.0% | -1.2% |
| 2018 | 2.0% | +1.9% |
| 2019 | 1.9% | -4.5% |
| 2020 | 1.7% | -9.8% |
Micronesia (country) compared with similar countries
- Micronesia (country)'s 1.7% is below the median for upper middle income countries, which is 9.8%, 18% of the median. (48 countries reporting)
- Micronesia (country)'s 1.7% is below the median for East Asia & Pacific, which is 7.8%, 22% of the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.1% | 2.0% | 2.1% | 2 |
| 2010s | 2.1% | 1.9% | 2.4% | 10 |
| 2020s | 1.7% | 1.7% | 1.7% | 1 |
Countries ranked near Micronesia (country)
- 146 Benin 2.3%
- 147 Bahrain 2.2% compare
- 148 Angola 2.2% compare
- 150 Equatorial Guinea 1.1% compare
- 151 Iran 0.9%
- 152 United Arab Emirates 0.7% compare
More public sector data for Micronesia (country)
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- 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)
Frequently asked questions
- What is taxes on goods and services in Micronesia (country)?
- Taxes on goods and services in Micronesia (country) was 1.7% 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 (country)?
- The highest recorded value was 2.4% in 2012.
- What is the lowest taxes on goods and services recorded in Micronesia (country)?
- The lowest recorded value was 1.7% in 2020.
- How does Micronesia (country) rank for taxes on goods and services?
- Micronesia (country) ranks 149th out of 154 countries with data for 2020.
- Is taxes on goods and services rising or falling in Micronesia (country)?
- Over the last ten years it is down 20.0%. The long-run trend across the full record is falling.
- Where does this Micronesia (country) 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 (% value added of industry and services). 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 value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.