Micronesia - Lead time to import (days)

Lead time to import (days) in Micronesia was reported at 31 days in 2014, according to the World Bank collection of development indicators, compiled from officially recognized sources.



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Time is recorded in calendar days. The time calculation for a procedure starts from the moment it is initiated and runs until it is completed. If a procedure can be accelerated for an additional cost, the fastest legal procedure is chosen. It is assumed that neither the exporter nor the importer wastes time and that each commits to completing each remaining procedure without delay. Procedures that can be completed in parallel are measured as simultaneous. The waiting time between procedures--for example, during unloading of the cargo--is included in the measure.


Micronesia | Private Sector

Distance to frontier score (0=lowest performance to 100=frontier)
49.48
Business extent of disclosure index (0=less disclosure to 10=more disclosure)
0
Ease of doing business index (1=most business-friendly regulations)
151
Average time to clear exports through customs (days)
18.3 days
Cost to build a warehouse (% of income per capita)
0.6 %
Cost to enforce a contract (% of claim)
66 %
Power outages in firms in a typical month
4.8
Cost to export (US$ per container)
1045
Trade: Cost to export (US$ per container)
168
Trade: Cost to import (US$ per container)
180
Cost to export, border compliance (US$)
168
Cost to export, documentary compliance (US$)
60
Documents to export
5
Lead time to export (days)
30 days
Trade: Time to export (day)
36
Trade: Time to import (days)
56 days
Time to export, border compliance (hours)
36 hours
Time to export, documentary compliance (hours)
26 hours
Firms using banks to finance working capital (% of firms)
19.4 %
Bribery incidence (% of firms experiencing at least one bribe payment request)
4.5 %
Firms competing against unregistered firms (% of firms)
41.1 %
Percent of firms expected to give gifts in meetings with tax officials
0 %
Percent of firms expected to give gifts to get an operating license
0 %
Percent of firms identifying corruption as a major constraint
28.5 %
Percent of firms expected to give gifts to secure government contract
0 %
Value of gift expected to secure a government contract (% of contract value)
0 %
Percent of firms expected to give gifts to public officials "to get things done"
0 %
Percent of firms expected to give gifts to get an electrical connection
18.8 %
Percent of firms expected to give gifts to get a construction permit
0 %
Percent of firms expected to give gifts to get an import license
0 %
Percent of firms identifying the courts system as a major constraint
15 %
Bribery index (% of gift or informal payment requests during public transactions)
1 %
Informal payments to public officials (% of firms)
0 %
Losses due to theft, robbery, vandalism, and arson (% sales)
2.1 %
Percent of firms paying for security
38.5 %
Security costs (% of annual sales)
0.8 %
If the establishment pays for security, average security costs (% of annual sales)
2.4 %
Losses due to theft and vandalism against the firm (% of annual sales)
2.1 %
If there were losses, average losses due to theft and vandalism (% of annual sales)
4.6 %
Percent of firms identifying crime, theft and disorder as a major constraint
19.1 %
Time required to obtain an operating license (days)
7.3 days
Age of the establishment (years)
16.3 years
Proportion of private domestic ownership in a firm
81.1 %
Proportion of private foreign ownership in a firm
18.9 %
Proportion of government/state ownership in a firm
0 %
Proportion of a firm held by the largest owner(s)
86.2 %
Percent of firms with legal status of publicly listed company
1.5 %
Percent of firms with legal status of privately held Limited Liability Company
3 %
Percent of firms with legal status of Sole Proprietorship
60.6 %
Percent of firms with legal status of Partnership
14.3 %
Percent of firms with legal status of Limited Partnership
1.5 %
Firms with female participation in ownership (% of firms)
86.8 %
Proportion of investment financed internally
88.7 %
Value of collateral needed for a loan (% of the loan amount) WB
265 %
Proportion of loans requiring collateral
71.7 %
Percent of firms using banks to finance investments
7.2 %
Percent of firms using banks to finance working capital
19.4 %
Percent of firms with a bank loan/line of credit
43 %
Percent of firms with a checking or savings account
98.5 %
Percent of firms identifying access to finance as a major constraint
24.2 %
Proportion of investment financed by banks
5.4 %
Percent of firms not needing a loan
38.8 %
Proportion of investment financed by supplier credit
0.8 %
Proportion of investment financed by equity or stock sales
0.4 %
Proportion of working capital financed by banks
12.2 %
Proportion of working capital financed by supplier credit
4.2 %
Firms formally registered when operations started (% of firms)
96.9 %
Percent of firms with female participation in ownership
86.8 %
Proportion of permanent full-time workers that are female
37.3 %
Percent of firms competing against unregistered or informal firms
41.1 %
Percent of firms identifying practices of competitors in the informal sector as a major constraint
11.8 %
Percent of firms formally registered when they started operations in the country
96.9 %
Number of years firm operated without formal registration
0.2
Days to obtain an electrical connection (upon application)
67.1
Proportion of electricity from a generator
27.4 %
Percent of firms identifying transportation as a major constraint
17.6 %
Percent of firms identifying electricity as a major constraint
28.4 %
Number of electrical outages in a typical month
4.8
Duration of a typical electrical outage (hours)
1.7 hours
If there were outages, average duration of a typical electrical outage (hours)
2.1 hours
Losses due to electrical outages (% of annual sales)
1.9 %
Percent of firms owning or sharing a generator
43.9 %
Percent of firms with an internationally-recognized quality certification
6 %
Percent of firms with an annual financial statement reviewed by external auditors
25.1 %
Percent of firms using technology licensed from foreign companies
0 %
Percent of firms having their own Web site
29.6 %
Percent of firms using e-mail to interact with clients/suppliers
85.1 %
ISO certification ownership (% of firms)
6 %
Percent of firms choosing access to finance as their biggest obstacle
8.1 %
Percent of firms choosing labor regulations as their biggest obstacle
4.8 %
Percent of firms choosing political instability as their biggest obstacle
0 %
Percent of firms choosing practices of the informal sector as their biggest obstacle
4.5 %
Percent of firms choosing tax administration as their biggest obstacle
6.5 %
Percent of firms choosing tax rates as their biggest obstacle
9.7 %
Percent of firms choosing transportation as their biggest obstacle
12.6 %
Percent of firms choosing access to land as their biggest obstacle
4.8 %
Percent of firms choosing business licensing and permits as their biggest obstacle
4.8 %
Percent of firms choosing corruption as their biggest obstacle
1.6 %
Percent of firms choosing courts as their biggest obstacle
0 %
Percent of firms choosing crime, theft and disorder as their biggest obstacle
1.6 %
Percent of firms choosing customs and trade regulations as their biggest obstacle
0 %
Percent of firms choosing electricity as their biggest obstacle
15.8 %
Percent of firms choosing inadequately educated workforce as their biggest obstacle
25.2 %
Days to obtain an import license
16.6
Days to obtain an operating license
7.3
Days to obtain a construction-related permit
80.5
Percent of firms identifying business licensing and permits as a major constraint
6.2 %
Senior management time spent dealing with the requirements of government regulation
12.4 %
Number of visits or required meetings with tax officials
1.3
If there were visits, average number of visits or required meetings with tax officials
2.3
Percent of firms identifying tax rates as a major constraint
22.7 %
Percent of firms identifying tax administration as a major constraint
23.9 %
Days to clear direct exports through customs
18.3
Percent of firms exporting directly or indirectly (at least 1% of sales)
16.4 %
Percent of firms using material inputs and/or supplies of foreign origin
77.8 %
Percent of firms exporting directly (at least 1% of sales)
10.5 %
Proportion of total sales that are domestic sales
91.4 %
Proportion of total sales that are exported directly
4.3 %
Proportion of total sales that are exported indirectly
4.2 %
Proportion of total inputs that are of domestic origin
36.7 %
Proportion of total inputs that are of foreign origin
63.3 %
Percent of firms identifying customs and trade regulations as a major constraint
17.9 %
Percent of firms identifying an inadequately educated workforce as a major constraint
43.6 %
Number of temporary workers
4.5
Number of permanent full-time workers
17.8
Years of the top manager's experience working in the firm's sector
16.2
Percent of firms identifying labor regulations as a major constraint
9.1 %
Cost to get electricity(% of income per capita)
397 %
Procedures required to connect to electricity
3
Management time dealing with officials (% of management time)
12.4 %
Cost to import (US$ per container)
1045
Cost to import, border compliance (US$)
180
Cost to import, documentary compliance (US$)
80
Documents to import
6
Lead time to import (days)
31 days
Time to import, border compliance (hours)
56 hours
Time to import, documentary compliance (hours)
35 hours
Resolving insolvency: cost (% of estate)
38 %
Time to resolve insolvency (years)
5.3 years
Resolving insolvency: recovery rate (cents on the dollar)
3.2
Time required to enforce a contract (days)
885 days
Rigidity of employment index (0=less rigid to 100=more rigid)
7
Procedures to enforce a contract
34
Extent of director liability index (0 to 10)
0
Strength of investor protection index (0 to 10)
2.5
Ease of shareholder suits index (0 to 10)
8
Minimum paid-in capital required to start a business (% of income per capita)
0 %
Cost of business start-up procedures, female (% of GNI per capita)
140 %
Cost of business start-up procedures, male (% of GNI per capita)
140 %
Cost of business start-up procedures (% of GNI per capita)
140 %
Time required to start a business (days)
16 days
Time required to start a business, female (days)
16 days
Time required to start a business, male (days)
16 days
Start-up procedures to register a business
7
Start-up procedures to register a business, female
7
Start-up procedures to register a business, male
7
Cost to register property (% of property value)
-1 %
Time to prepare and pay taxes (hours)
128 hours
Firms expected to give gifts in meetings with tax officials (% of firms)
0 %
Labor tax and contributions (% of commercial profits)
8.5 %
Average number of times firms spent in meetings with tax officials
1.3
Other taxes payable by businesses (% of commercial profits)
52 %
Tax payments
21
Profit tax (% of commercial profits)
0 %
Total tax rate (% of profit)
60.5 %
Time required to build a warehouse (days)
86 days
Procedures to build a warehouse
14
International tourism, number of arrivals
30200
International tourism, receipts
25000000 USD
International tourism, receipts (% of total exports)
19.81 %
International tourism, expenditures for passenger transport items
17000000 USD
International tourism, receipts for travel items
25000000 USD
International tourism, expenditures for travel items
12000000 USD
International tourism, expenditures
29000000 USD
International tourism, expenditures (% of total imports)
12.54 %
Merchandise trade (% of GDP)
82.55 %
Import volume index (2000 = 100)
107
Insurance and financial services (% of commercial service imports)
2.78 %
Merchandise imports
240000000 USD
Import value index (2000 = 100)
168
Computer, communications and other services (% of commercial service imports)
24.21 %
Commercial service imports
73605400 USD
Transport services (% of commercial service imports)
56.95 %
Travel services (% of commercial service imports)
16.06 %
Net barter terms of trade index (2000 = 100)
89.99
Export volume index (2000 = 100)
65.32
Merchandise exports
20000000 USD
Export value index (2000 = 100)
92.58
Computer, communications and other services (% of commercial service exports)
10.98 %
Commercial service exports
33420500 USD
Transport services (% of commercial service exports)
13.3 %
Travel services (% of commercial service exports)
75.72 %