Tariff rate, most favored nation, weighted mean, primary products in Republic of Korea
Republic of Korea: Tariff rate, most favored nation, weighted mean, primary products was 15.0% in 2022. ▲ Rising
Tariff rate, most favored nation, weighted mean, primary products in Republic of Korea, 1988–2022
Source: Staff estimates. Measured in %.
Analysis
The most recent figure for tariff rate, most favored nation, weighted mean, primary products in Republic of Korea is 15.0%, measured in 2022.
That represents a change of down 21.4% on the previous year and up 40.4% over ten years.
Over the whole period, tariff rate, most favored nation, weighted mean, primary products in Republic of Korea peaked at 31.4% in 1996 and was at its lowest, 5.5%, in 1999.
Republic of Korea ranks 37th of 184 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 31 years of available data.
Tariff rate, most favored nation, weighted mean, primary products in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 1988 | 8.1% | — |
| 1989 | 5.6% | -31.4% |
| 1990 | 6.2% | +11.1% |
| 1992 | 6.3% | +1.1% |
| 1995 | 5.8% | -6.5% |
| 1996 | 31.4% | +435.9% |
| 1997 | 25.9% | -17.3% |
| 1998 | 26.5% | +2.1% |
| 1999 | 5.5% | -79.1% |
| 2000 | 17.3% | +213.0% |
| 2001 | 18.6% | +7.5% |
| 2002 | 18.9% | +1.6% |
| 2003 | 18.6% | -1.6% |
| 2004 | 17.6% | -5.4% |
| 2005 | 13.5% | -23.5% |
| 2006 | 11.5% | -14.8% |
| 2007 | 11.7% | +2.0% |
| 2008 | 13.2% | +12.3% |
| 2009 | 12.6% | -4.0% |
| 2010 | 11.1% | -12.3% |
| 2011 | 10.5% | -5.5% |
| 2012 | 10.7% | +1.8% |
| 2013 | 11.3% | +6.0% |
| 2014 | 11.3% | -0.1% |
| 2015 | 12.5% | +10.5% |
| 2016 | 16.3% | +30.8% |
| 2017 | 14.3% | -12.3% |
| 2018 | 14.3% | +0.0% |
| 2020 | 19.1% | +33.0% |
| 2021 | 19.1% | +0.0% |
| 2022 | 15.0% | -21.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 6.8% | 5.6% | 8.1% | 2 |
| 1990s | 15.4% | 5.5% | 31.4% | 7 |
| 2000s | 15.4% | 11.5% | 18.9% | 10 |
| 2010s | 12.5% | 10.5% | 16.3% | 9 |
| 2020s | 17.7% | 15.0% | 19.1% | 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, most favored nation, weighted mean, primary products in Republic of Korea?
- Tariff rate, most favored nation, weighted mean, primary products in Republic of Korea was 15.0% in 2022, according to Staff estimates.
- What is the highest tariff rate, most favored nation, weighted mean, primary products recorded in Republic of Korea?
- The highest recorded value was 31.4% in 1996.
- What is the lowest tariff rate, most favored nation, weighted mean, primary products recorded in Republic of Korea?
- The lowest recorded value was 5.5% in 1999.
- How does Republic of Korea rank for tariff rate, most favored nation, weighted mean, primary products?
- Republic of Korea ranks 37th out of 184 countries with data for 2022.
- Is tariff rate, most favored nation, weighted mean, primary products rising or falling in Republic of Korea?
- Over the last ten years it is up 40.4%. The long-run trend across the full record is rising.
- 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, primary 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
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. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).