Korea - 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

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Tariffs