Business updates

The WTO issued on 6 July the latest edition of its annual publication World Tariff Profiles, which provides comprehensive information on the tariffs and non-tariff measures imposed by over 170 countries and customs territories. The publication is jointly prepared by the WTO, the United Nations Conference on Trade and Development and the International Trade Centre.

Tariff data are presented in comparative tables indicating, among other things, the average “bound” or maximum tariff each economy may apply to its imports and the average tariff it applies in practice. A one-page profile for each economy provides more detailed data, with tariffs broken down by product groups and trading partners.

A summary table providing selected indicators on the imports and exports for each country and customs territory is also included. In addition, the publication provides statistics on non-tariff measures, such as safeguards and anti-dumping measures, used by WTO members.

The special topic for this issue is market access to medical goods related to COVID-19. The chapter looks into the bound and applied tariffs for a range of medical products, such as medicines and medical technology, critical for the global response to the COVID-19 pandemic. It finds that the average tariff applied by WTO members to all medical products is 4.8 per cent, with the highest tariffs being applied to personal protective products (an average tariff of 11.5 per cent).

French and Spanish editions will be available for download by the end of July. Printed copies will be available in August.

Read more here.