Tariff rate, applied, simple mean, manufactured products in Republic of Korea
Republic of Korea: Tariff rate, applied, simple mean, manufactured products was 2.4% in 2022. ▼ Falling
Tariff rate, applied, simple mean, manufactured products in Republic of Korea, 1988–2022
Source: Staff estimates. Measured in %.
Analysis
Republic of Korea recorded 2.4% for tariff rate, applied, simple mean, manufactured products in 2022.
That represents a change of up 12.1% on the previous year and down 66.8% over ten years.
Over the whole period, tariff rate, applied, simple mean, manufactured products in Republic of Korea peaked at 18.8% in 1988 and was at its lowest, 2.1%, in 2021.
That places Republic of Korea 134th out of 184 countries with data for 2022, putting it in the middle of the range.
The long-run direction has been consistently falling across the 31 years of available data.
Tariff rate, applied, simple mean, manufactured products in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 1988 | 18.8% | — |
| 1989 | 15.1% | -19.8% |
| 1990 | 12.9% | -14.7% |
| 1992 | 10.9% | -15.2% |
| 1995 | 7.8% | -28.5% |
| 1996 | 8.2% | +4.6% |
| 1997 | 8.1% | -0.4% |
| 1998 | 8.5% | +4.4% |
| 1999 | 8.1% | -4.2% |
| 2000 | 8.1% | -1.1% |
| 2001 | 8.0% | -0.6% |
| 2002 | 7.8% | -1.9% |
| 2003 | 7.7% | -2.5% |
| 2004 | 7.3% | -4.8% |
| 2005 | 7.2% | -0.4% |
| 2006 | 7.3% | +1.1% |
| 2007 | 6.5% | -11.5% |
| 2008 | 7.3% | +12.6% |
| 2009 | 7.3% | -0.5% |
| 2010 | 7.3% | +0.6% |
| 2011 | 7.4% | +1.4% |
| 2012 | 7.2% | -2.6% |
| 2013 | 7.2% | -0.7% |
| 2014 | 3.0% | -57.5% |
| 2015 | 2.7% | -12.5% |
| 2016 | 7.3% | +173.0% |
| 2017 | 2.4% | -66.8% |
| 2018 | 2.4% | -1.7% |
| 2020 | 2.4% | +0.4% |
| 2021 | 2.1% | -10.5% |
| 2022 | 2.4% | +12.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 16.9% | 15.1% | 18.8% | 2 |
| 1990s | 9.2% | 7.8% | 12.9% | 7 |
| 2000s | 7.4% | 6.5% | 8.1% | 10 |
| 2010s | 5.2% | 2.4% | 7.4% | 9 |
| 2020s | 2.3% | 2.1% | 2.4% | 3 |
Countries ranked near Republic of Korea
- 131 Timor-Leste 2.5% compare
- 132 Costa Rica 2.5% compare
- 133 Lao People's Democratic Republic 2.5% compare
- 135 New Zealand 2.4% compare
- 136 Australia 2.1% compare
- 137 Republic of Moldova 2.1% compare
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 tariff rate, applied, simple mean, manufactured products in Republic of Korea?
- Tariff rate, applied, simple mean, manufactured products in Republic of Korea was 2.4% in 2022, according to Staff estimates.
- What is the highest tariff rate, applied, simple mean, manufactured products recorded in Republic of Korea?
- The highest recorded value was 18.8% in 1988.
- What is the lowest tariff rate, applied, simple mean, manufactured products recorded in Republic of Korea?
- The lowest recorded value was 2.1% in 2021.
- How does Republic of Korea rank for tariff rate, applied, simple mean, manufactured products?
- Republic of Korea ranks 134th out of 184 countries with data for 2022.
- Is tariff rate, applied, simple mean, manufactured products rising or falling in Republic of Korea?
- Over the last ten years it is down 66.8%. The long-run trend across the full record is falling.
- Where does this Republic of Korea data come from?
- The figures come from Staff estimates, published as part of Tariff rate, applied, simple mean, manufactured products (%). Statizoid updates them automatically from the source API.
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CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Simple mean applied tariff is the unweighted average of effectively applied rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups. Effectively applied tariff rates at the six- and eight-digit product level are averaged for products in each commodity group. When the effectively applied rate is unavailable, the most favored nation rate is used instead. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of simple mean tariffs. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.