Korea - Tariff rate, most favored nation, weighted mean, primary products (%)

Tariff rate, most favored nation, weighted mean, primary products (%) in Korea was 19.05 as of 2020. Its highest value over the past 32 years was 31.35 in 1996, while its lowest value was 5.54 in 1999.

Definition: 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).

Source: World Bank staff estimates using the World Integrated Trade Solution system, based on data from United Nations Conference on Trade and Development's Trade Analysis and Information System (TRAINS) database and the World Trade Organization’s (WTO) Integrate

See also:

Year Value
1988 8.12
1989 5.57
1990 6.19
1992 6.26
1995 5.85
1996 31.35
1997 25.94
1998 26.49
1999 5.54
2000 17.34
2001 18.64
2002 18.94
2003 18.63
2004 17.63
2005 13.49
2006 11.49
2007 11.72
2008 13.16
2009 12.64
2010 11.08
2011 10.47
2012 10.66
2013 11.30
2014 11.29
2015 12.48
2016 16.32
2017 14.32
2018 14.32
2020 19.05

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Tariffs