Bound rate, simple mean, manufactured products in Republic of Korea
Republic of Korea: Bound rate, simple mean, manufactured products was 11.1% in 2021. ▬ Flat
Bound rate, simple mean, manufactured products in Republic of Korea, 1995–2021
Source: Staff estimates, World Bank (WB). Measured in %.
Analysis
In 2021, bound rate, simple mean, manufactured products in Republic of Korea stood at 11.1%.
That represents a change of down 3.1% over ten years.
Over the whole period, bound rate, simple mean, manufactured products in Republic of Korea peaked at 11.5% in 2005 and was at its lowest, 10.7%, in 1996.
Republic of Korea ranks 102nd of 157 countries on this measure, in the middle of the range.
Bound rate, simple mean, manufactured products in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 1995 | 10.8% | — |
| 1996 | 10.7% | -0.1% |
| 1997 | 10.7% | +0.0% |
| 1998 | 10.7% | +0.0% |
| 1999 | 10.7% | +0.0% |
| 2000 | 10.7% | +0.0% |
| 2001 | 10.7% | +0.0% |
| 2002 | 11.4% | +6.6% |
| 2003 | 11.4% | +0.0% |
| 2004 | 11.4% | +0.0% |
| 2005 | 11.5% | +0.1% |
| 2006 | 11.5% | +0.0% |
| 2007 | 11.4% | -0.2% |
| 2008 | 11.4% | +0.0% |
| 2009 | 11.4% | -0.2% |
| 2010 | 11.4% | +0.1% |
| 2011 | 11.4% | -0.1% |
| 2012 | 11.4% | +0.1% |
| 2013 | 11.4% | +0.0% |
| 2014 | 11.4% | +0.0% |
| 2015 | 11.1% | -3.3% |
| 2016 | 11.1% | +0.0% |
| 2017 | 11.1% | +0.2% |
| 2018 | 11.1% | +0.0% |
| 2020 | 11.1% | +0.0% |
| 2021 | 11.1% | +0.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10.7% | 10.7% | 10.8% | 5 |
| 2000s | 11.3% | 10.7% | 11.5% | 10 |
| 2010s | 11.3% | 11.1% | 11.4% | 9 |
| 2020s | 11.1% | 11.1% | 11.1% | 2 |
Countries ranked near Republic of Korea
More private sector data for Republic of Korea
- Merchandise trade 71.6% (2025)
- Food imports 6.3% (2024)
- Manufactures imports 60.1% (2024)
- Merchandise imports 631.89 billion current US$ (2025)
- Food exports 1.6% (2024)
- Manufactures exports 87.3% (2024)
- Merchandise exports 709.33 billion current US$ (2025)
- Merchandise exports (current US$), per capita 13,724 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.3788 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 3.76 % change on previous year (2025)
Frequently asked questions
- What is bound rate, simple mean, manufactured products in Republic of Korea?
- Bound rate, simple mean, manufactured products in Republic of Korea was 11.1% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest bound rate, simple mean, manufactured products recorded in Republic of Korea?
- The highest recorded value was 11.5% in 2005.
- What is the lowest bound rate, simple mean, manufactured products recorded in Republic of Korea?
- The lowest recorded value was 10.7% in 1996.
- How does Republic of Korea rank for bound rate, simple mean, manufactured products?
- Republic of Korea ranks 102nd out of 157 countries with data for 2021.
- Is bound rate, simple mean, manufactured products rising or falling in Republic of Korea?
- Over the last ten years it is down 3.1%. The long-run trend across the full record is flat.
- Where does this Republic of Korea data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Bound rate, simple mean, manufactured products (%). Statizoid updates them automatically from the source API.
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About this data
Simple mean bound rate is the unweighted average of all the lines in the tariff schedule in which bound rates have been set. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.