Korea - Bound rate, simple mean, manufactured products (%)

Bound rate, simple mean, manufactured products (%) in Korea was 11.07 as of 2020. Its highest value over the past 25 years was 11.46 in 2006, while its lowest value was 10.74 in 1996.

Definition: Simple mean bound rate is the unweighted average of all the lines in the tariff schedule in which bound rates have been set. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.

Source: World Bank staff estimates using the World Integrated Trade Solution system, based on data from World Trade Organization.

See also:

Year Value
1995 10.75
1996 10.74
1997 10.74
1998 10.74
1999 10.74
2000 10.74
2001 10.74
2002 11.45
2003 11.45
2004 11.45
2005 11.46
2006 11.46
2007 11.44
2008 11.44
2009 11.42
2010 11.43
2011 11.42
2012 11.43
2013 11.43
2014 11.43
2015 11.05
2016 11.05
2017 11.07
2018 11.07
2020 11.07

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Tariffs