Taxes on goods and services in Micronesia, Federated States of
Micronesia, Federated States of: Taxes on goods and services was 1.7% 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 % value added of industry and services.
Analysis
The most recent figure for taxes on goods and services in Micronesia, Federated States of 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, Federated States of peaked at 2.4% in 2012 and was at its lowest, 1.7%, in 2020.
That places Micronesia, Federated States of 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 in Micronesia, Federated States of, 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% |
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, Federated States of
- 146 Benin 2.3%
- 147 Bahrain 2.2% compare
- 148 Angola 2.2% compare
- 150 Equatorial Guinea 1.1% compare
- 151 Iran, Islamic Republic of 0.9%
- 152 United Arab Emirates 0.7% 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)
- Taxes on goods and services 3.4% (2020)
- Net investment in nonfinancial assets 10.5% (2020)
- Net lending (+) / net borrowing (-) 6.9% (2020)
- Interest payments 0.4% (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 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, Federated States of?
- The highest recorded value was 2.4% in 2012.
- What is the lowest taxes on goods and services recorded in Micronesia, Federated States of?
- The lowest recorded value was 1.7% in 2020.
- How does Micronesia, Federated States of rank for taxes on goods and services?
- Micronesia, Federated States of ranks 149th out of 154 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 20.0%. 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 (% value added of industry and services). Statizoid updates them automatically from the source API.
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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.