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

This indicator captures the intricacies of international trade by calculating the average tariff rates applied to manufactured goods, meticulously weighted by their import shares across trading partners. Utilizing the Harmonized System at a detailed six- or eight-digit level, the data is enriched by aligning tariff line details with Standard International Trade Classification (SITC) revision 3 codes, facilitating a nuanced classification of commodities. The methodology includes a conversion of specific rates into ad valorem equivalents where feasible, ensuring a comprehensive understanding of tariff impacts. Focusing on SITC sections 5-8 and excluding division 68, this measure reflects the real costs of trade barriers on manufactured products, providing key insights into global trade dynamics and economic relationships. Source: