Bound rate, simple mean, manufactured products (%) in South Korea
South Korea: Bound rate, simple mean, manufactured products (%) was 11.1% in 2021. ▬ Flat
Bound rate, simple mean, manufactured products in South Korea, 1995–2021
Source: Staff estimates, World Bank (WB). Measured in %.
Analysis
In 2021, bound rate, simple mean, manufactured products in South 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 South Korea peaked at 11.5% in 2005 and was at its lowest, 10.7%, in 1996.
South Korea ranks 102nd of 157 countries on this measure, in the middle of the range.
Bound rate, simple mean, manufactured products (%) in South 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% |
South Korea compared with similar countries
- South Korea's 11.1% is above the median for high income countries, which is 4.0%, 2.8× the median. (58 countries reporting)
- South Korea's 11.1% is below the median for East Asia & Pacific, which is 17.3%, 64% of the median. (24 countries reporting)
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 South Korea
More private sector data for South Korea
- Merchandise trade 71.6% (2025)
- Food imports 6.5% (2025)
- Manufactures imports 62.1% (2025)
- Merchandise imports 631.89 billion current US$ (2025)
- Commercial service imports 183.44 billion current US$ (2025)
- Food exports 1.7% (2025)
- Manufactures exports 88.0% (2025)
- Merchandise exports 709.33 billion current US$ (2025)
- Commercial service exports 149.31 billion current US$ (2025)
- Merchandise exports (current US$), per capita 13,724 current US$ per person (2025)
Frequently asked questions
- What is bound rate, simple mean, manufactured products in South Korea?
- Bound rate, simple mean, manufactured products in South 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 South Korea?
- The highest recorded value was 11.5% in 2005.
- What is the lowest bound rate, simple mean, manufactured products recorded in South Korea?
- The lowest recorded value was 10.7% in 1996.
- How does South Korea rank for bound rate, simple mean, manufactured products?
- South Korea ranks 102nd out of 157 countries with data for 2021.
- Is bound rate, simple mean, manufactured products rising or falling in South Korea?
- Over the last ten years it is down 3.1%. The long-run trend across the full record is flat.
- Where does this South 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.
Download this data
CSV · JSON — 26 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.