Tariff rate, most favored nation, simple mean … manufactured simple in South Korea
South Korea: Tariff rate, most favored nation, simple mean … manufactured simple was 7.1% in 2022. ▼ Falling
Tariff rate, most favored nation, simple mean, manufactured products in South Korea, 1988–2022
Source: Staff estimates. Measured in %.
Analysis
The most recent figure for tariff rate, most favored nation, simple mean, manufactured products in South Korea is 7.1%, measured in 2022. That is the lowest value across all 31 years on record.
That represents a change of down 1.3% on the previous year and down 4.5% over ten years.
Over the whole period, tariff rate, most favored nation, simple mean, manufactured products in South Korea peaked at 18.7% in 1988 and was at its lowest, 7.1%, in 2022.
South Korea ranks 93rd of 186 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 31 years of available data.
Tariff rate, most favored nation, simple mean … manufactured simple in South Korea, year by year
| Year | % | Change |
|---|---|---|
| 1988 | 18.7% | — |
| 1989 | 14.8% | -20.7% |
| 1990 | 12.7% | -14.3% |
| 1992 | 10.8% | -14.9% |
| 1995 | 7.8% | -28.2% |
| 1996 | 8.6% | +10.8% |
| 1997 | 8.6% | -0.6% |
| 1998 | 8.9% | +4.0% |
| 1999 | 8.1% | -9.0% |
| 2000 | 8.6% | +5.8% |
| 2001 | 8.4% | -1.8% |
| 2002 | 8.2% | -2.9% |
| 2003 | 7.9% | -2.8% |
| 2004 | 7.5% | -5.7% |
| 2005 | 7.5% | +0.1% |
| 2006 | 7.5% | -0.1% |
| 2007 | 7.5% | -0.1% |
| 2008 | 7.5% | +0.0% |
| 2009 | 7.4% | -1.1% |
| 2010 | 7.4% | +0.4% |
| 2011 | 7.4% | -0.3% |
| 2012 | 7.4% | -0.3% |
| 2013 | 7.4% | -0.1% |
| 2014 | 7.4% | +0.1% |
| 2015 | 7.4% | +0.0% |
| 2016 | 7.4% | -0.1% |
| 2017 | 7.5% | +1.6% |
| 2018 | 7.5% | -0.1% |
| 2020 | 7.5% | +0.0% |
| 2021 | 7.2% | -4.5% |
| 2022 | 7.1% | -1.3% |
South Korea compared with similar countries
- South Korea's 7.1% is above the median for high income countries, which is 4.0%, 1.8× the median. (66 countries reporting)
- South Korea's 7.1% is above the median for East Asia & Pacific, which is 6.3%, 1.1× the median. (28 countries reporting)
Biggest year-on-year movements
Years where Tariff rate, most favored nation, simple mean … manufactured simple in South Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1995 | -28.2% | 10.8% | 7.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 16.8% | 14.8% | 18.7% | 2 |
| 1990s | 9.3% | 7.8% | 12.7% | 7 |
| 2000s | 7.8% | 7.4% | 8.6% | 10 |
| 2010s | 7.4% | 7.4% | 7.5% | 9 |
| 2020s | 7.2% | 7.1% | 7.5% | 3 |
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 tariff rate, most favored nation, simple mean, manufactured products in South Korea?
- Tariff rate, most favored nation, simple mean, manufactured products in South Korea was 7.1% in 2022, according to Staff estimates.
- What is the highest tariff rate, most favored nation, simple mean, manufactured products recorded in South Korea?
- The highest recorded value was 18.7% in 1988.
- What is the lowest tariff rate, most favored nation, simple mean, manufactured products recorded in South Korea?
- The lowest recorded value was 7.1% in 2022.
- How does South Korea rank for tariff rate, most favored nation, simple mean, manufactured products?
- South Korea ranks 93rd out of 186 countries with data for 2022.
- Is tariff rate, most favored nation, simple mean, manufactured products rising or falling in South Korea?
- Over the last ten years it is down 4.5%. The long-run trend across the full record is falling.
- Where does this South Korea data come from?
- The figures come from Staff estimates, published as part of Tariff rate, most favored nation, simple mean, manufactured products (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Simple mean most favored nation tariff rate is the unweighted average of most favored nation 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. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.