In February, export prices rose 11.1 percent from a year ago, while import prices increased 14.4 percent, the BOK data showed. (Image: Yonhap)
SEOUL, March 22 (Korea Bizwire) – South Korea’s terms of trade deteriorated slightly in February from a year earlier as a rise in export prices was offset by a hike in import prices, central bank data showed Wednesday.
The terms of trade index for products came to 100.48 last month, down 2.9 percent from a year earlier, according to preliminary data from the Bank of Korea (BOK).
The index measures the amount of imports a country can purchase for each unit of exports, showing how the country’s exports are doing in comparison to those of others.
In February, export prices rose 11.1 percent from a year ago, while import prices increased 14.4 percent, the BOK data showed.
The income terms of trade rose 6.8 percent on-year to 134.41 last month, the data showed. The income terms of trade measures the amount of imports the country can purchase with the total value of its exports.’
(Yonhap)
