Tariff rate, applied, weighted mean, manufactured products in Republic of Korea
Republic of Korea: Tariff rate, applied, weighted mean, manufactured products was 1.8% in 2022. ◆ Volatile
Tariff rate, applied, weighted mean, manufactured products in Republic of Korea, 1988–2022
Source: Staff estimates. Measured in %.
Analysis
In 2022, tariff rate, applied, weighted mean, manufactured products in Republic of Korea stood at 1.8%.
Compared with earlier readings it is up 55.7% on the previous year and down 60.7% over ten years.
Over the whole period, tariff rate, applied, weighted mean, manufactured products in Republic of Korea peaked at 17.1% in 1988 and was at its lowest, 1.1%, in 2021.
Republic of Korea ranks 125th of 184 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Tariff rate, applied, weighted mean, manufactured products in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 1988 | 17.1% | — |
| 1989 | 13.7% | -20.0% |
| 1990 | 11.5% | -16.1% |
| 1992 | 9.9% | -14.0% |
| 1995 | 7.4% | -24.9% |
| 1996 | 7.7% | +3.8% |
| 1997 | 7.2% | -6.4% |
| 1998 | 6.6% | -8.7% |
| 1999 | 6.3% | -5.0% |
| 2000 | 5.0% | -20.4% |
| 2001 | 5.2% | +5.4% |
| 2002 | 5.1% | -3.4% |
| 2003 | 4.9% | -3.2% |
| 2004 | 4.5% | -7.3% |
| 2005 | 4.4% | -2.6% |
| 2006 | 4.5% | +2.0% |
| 2007 | 4.0% | -11.3% |
| 2008 | 4.1% | +1.7% |
| 2009 | 4.3% | +5.9% |
| 2010 | 4.3% | -0.9% |
| 2011 | 4.4% | +2.6% |
| 2012 | 4.5% | +3.6% |
| 2013 | 4.6% | +1.8% |
| 2014 | 2.7% | -41.0% |
| 2015 | 2.5% | -10.3% |
| 2016 | 4.7% | +89.8% |
| 2017 | 2.4% | -49.2% |
| 2018 | 2.3% | -4.2% |
| 2020 | 1.9% | -14.6% |
| 2021 | 1.1% | -40.4% |
| 2022 | 1.8% | +55.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 15.4% | 13.7% | 17.1% | 2 |
| 1990s | 8.1% | 6.3% | 11.5% | 7 |
| 2000s | 4.6% | 4.0% | 5.2% | 10 |
| 2010s | 3.6% | 2.3% | 4.7% | 9 |
| 2020s | 1.6% | 1.1% | 1.9% | 3 |
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 tariff rate, applied, weighted mean, manufactured products in Republic of Korea?
- Tariff rate, applied, weighted mean, manufactured products in Republic of Korea was 1.8% in 2022, according to Staff estimates.
- What is the highest tariff rate, applied, weighted mean, manufactured products recorded in Republic of Korea?
- The highest recorded value was 17.1% in 1988.
- What is the lowest tariff rate, applied, weighted mean, manufactured products recorded in Republic of Korea?
- The lowest recorded value was 1.1% in 2021.
- How does Republic of Korea rank for tariff rate, applied, weighted mean, manufactured products?
- Republic of Korea ranks 125th out of 184 countries with data for 2022.
- Is tariff rate, applied, weighted mean, manufactured products rising or falling in Republic of Korea?
- Over the last ten years it is down 60.7%. The long-run trend across the full record is volatile.
- Where does this Republic of Korea data come from?
- The figures come from Staff estimates, published as part of Tariff rate, applied, weighted mean, manufactured products (%). Statizoid updates them automatically from the source API.
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About this data
Weighted mean applied tariff is the average of effectively applied rates weighted by the product import shares corresponding to each partner country. 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 and import weights. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of weighted mean tariffs. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database. 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. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.