Bound rate, simple mean, all products in South Korea
South Korea: Bound rate, simple mean, all products was 16.6% in 2021. ▲ Rising
Bound rate, simple mean, all products in South Korea, 1995–2021
Source: Staff estimates, World Bank (WB). Measured in %.
Analysis
South Korea recorded 16.6% for bound rate, simple mean, all products in 2021.
The figure is down 1.5% over ten years.
Over the whole period, bound rate, simple mean, all products in South Korea peaked at 18.2% in 2013 and was at its lowest, 15.7%, in 1996.
South Korea ranks 97th of 157 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 26 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 15.8% | 15.7% | 15.8% | 5 |
| 2000s | 16.6% | 15.7% | 17.0% | 10 |
| 2010s | 17.2% | 16.5% | 18.2% | 9 |
| 2020s | 16.6% | 16.6% | 16.6% | 2 |
Countries ranked near South Korea
More private sector data for South Korea
- Merchandise exports 709.33 billion current US$ (2025)
- Manufactures exports 87.3% (2024)
- Food exports 1.6% (2024)
- Merchandise imports 631.89 billion current US$ (2025)
- Manufactures imports 60.1% (2024)
- Food imports 6.3% (2024)
- Merchandise trade 71.6% (2025)
- Commercial service exports 149.31 billion current US$ (2025)
- Transport services 19.5% (2025)
- Computer, communications and other services 57.4% (2025)
Frequently asked questions
- What is bound rate, simple mean, all products in South Korea?
- Bound rate, simple mean, all products in South Korea was 16.6% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest bound rate, simple mean, all products recorded in South Korea?
- The highest recorded value was 18.2% in 2013.
- What is the lowest bound rate, simple mean, all products recorded in South Korea?
- The lowest recorded value was 15.7% in 1996.
- How does South Korea rank for bound rate, simple mean, all products?
- South Korea ranks 97th out of 157 countries with data for 2021.
- Is bound rate, simple mean, all products rising or falling in South Korea?
- Over the last ten years it is down 1.5%. The long-run trend across the full record is rising.
- Where does this South Korea data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Bound rate, simple mean, all products (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 26 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
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.