Korea - Bound rate

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

Bound rate, simple mean, all products (%)

Bound rate, simple mean, all products (%) in Korea was 16.55 as of 2020. Its highest value over the past 25 years was 18.23 in 2014, while its lowest value was 15.74 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.

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

See also:

Year Value
1995 15.81
1996 15.74
1997 15.74
1998 15.74
1999 15.74
2000 15.74
2001 15.74
2002 17.04
2003 16.94
2004 16.64
2005 16.64
2006 16.67
2007 16.92
2008 16.86
2009 16.82
2010 16.81
2011 16.81
2012 18.22
2013 18.23
2014 18.23
2015 16.48
2016 16.48
2017 16.55
2018 16.55
2020 16.55

Bound rate, simple mean, primary products (%)

Bound rate, simple mean, primary products (%) in Korea was 33.53 as of 2020. Its highest value over the past 25 years was 38.79 in 2013, while its lowest value was 33.33 in 2015.

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. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).

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

See also:

Year Value
1995 33.72
1996 33.67
1997 33.67
1998 33.67
1999 33.67
2000 33.67
2001 33.67
2002 36.42
2003 35.96
2004 34.62
2005 34.61
2006 34.73
2007 35.65
2008 35.43
2009 35.30
2010 35.25
2011 35.27
2012 38.73
2013 38.79
2014 38.76
2015 33.33
2016 33.33
2017 33.53
2018 33.53
2020 33.53

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Tariffs