This file photo taken April 1, 2024, shows a port in the southeastern city of Busan. (Image courtesy of Yonhap)
SEOUL, May 14 (Korea Bizwire) — South Korea’s terms of trade rose for the fifth consecutive month in April as export prices rose while import prices fell, central bank data showed Tuesday.
The country’s net terms-of-trade index for goods — a gauge of overall trade terms — improved 5.2 percent last month from a year ago, following the previous month’s 5.5 percent rise, according to the preliminary data from the Bank of Korea.
The index was based on the new base year of 2020, according to the central bank.
The index shows the amount of imports a country can buy for each unit of exports, with a lower figure meaning worse trade terms.
Import prices fell 0.2 percent on-year last month, while export prices rose 3.1 percent.
It is calculated by dividing the index for export prices by that for import prices.
(Yonhap)
