Tariff rate, most favored nation, weighted mean, all products in Republic of Korea
Republic of Korea: Tariff rate, most favored nation, weighted mean, all products was 8.7% in 2022. ▼ Falling
Tariff rate, most favored nation, weighted mean, all products in Republic of Korea, 1988–2022
Source: Staff estimates. Measured in %.
Analysis
In 2022, tariff rate, most favored nation, weighted mean, all products in Republic of Korea stood at 8.7%.
That represents a change of down 2.6% on the previous year and up 12.3% over ten years.
Over the whole period, tariff rate, most favored nation, weighted mean, all products in Republic of Korea peaked at 15.0% in 1996 and was at its lowest, 5.9%, in 1999.
Republic of Korea ranks 72nd of 184 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, weighted mean, all products in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 1988 | 13.9% | — |
| 1989 | 10.6% | -23.9% |
| 1990 | 9.5% | -10.1% |
| 1992 | 8.5% | -10.6% |
| 1995 | 6.8% | -19.8% |
| 1996 | 15.0% | +119.6% |
| 1997 | 13.4% | -10.5% |
| 1998 | 13.6% | +1.2% |
| 1999 | 5.9% | -56.6% |
| 2000 | 9.6% | +61.9% |
| 2001 | 10.4% | +9.0% |
| 2002 | 10.0% | -4.1% |
| 2003 | 9.7% | -2.6% |
| 2004 | 9.3% | -4.6% |
| 2005 | 8.0% | -14.0% |
| 2006 | 7.5% | -6.4% |
| 2007 | 7.4% | -0.7% |
| 2008 | 8.4% | +13.0% |
| 2009 | 7.9% | -5.7% |
| 2010 | 7.3% | -7.4% |
| 2011 | 7.5% | +1.9% |
| 2012 | 7.7% | +3.6% |
| 2013 | 8.0% | +3.5% |
| 2014 | 8.0% | +0.0% |
| 2015 | 8.4% | +5.4% |
| 2016 | 8.8% | +4.9% |
| 2017 | 9.1% | +2.7% |
| 2018 | 9.1% | +0.0% |
| 2020 | 10.4% | +14.9% |
| 2021 | 8.9% | -14.6% |
| 2022 | 8.7% | -2.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 12.3% | 10.6% | 13.9% | 2 |
| 1990s | 10.4% | 5.9% | 15.0% | 7 |
| 2000s | 8.8% | 7.4% | 10.4% | 10 |
| 2010s | 8.2% | 7.3% | 9.1% | 9 |
| 2020s | 9.3% | 8.7% | 10.4% | 3 |
Countries ranked near Republic of Korea
- 69 Angola 8.8% compare
- 70 Dominican Republic 8.8% compare
- 71 Mauritania 8.7% compare
- 72 Zambia 8.7% compare
- 74 Fiji 8.5% compare
- 75 Lao People's Democratic Republic 8.4% 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, most favored nation, weighted mean, all products in Republic of Korea?
- Tariff rate, most favored nation, weighted mean, all products in Republic of Korea was 8.7% in 2022, according to Staff estimates.
- What is the highest tariff rate, most favored nation, weighted mean, all products recorded in Republic of Korea?
- The highest recorded value was 15.0% in 1996.
- What is the lowest tariff rate, most favored nation, weighted mean, all products recorded in Republic of Korea?
- The lowest recorded value was 5.9% in 1999.
- How does Republic of Korea rank for tariff rate, most favored nation, weighted mean, all products?
- Republic of Korea ranks 72nd out of 184 countries with data for 2022.
- Is tariff rate, most favored nation, weighted mean, all products rising or falling in Republic of Korea?
- Over the last ten years it is up 12.3%. 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, most favored nation, weighted mean, all products (%). Statizoid updates them automatically from the source API.
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About this data
Weighted mean most favored nations tariff is the average of most favored nation 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. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database.