South Korea's terms of trade improved for the fifth consecutive month in January as cheaper oil pushed import prices lower compared to export prices, the central bank said Thursday.
Last month, the country's net terms-of-trade index for goods (based on the benchmark 100 in 2010) came in 95.82, the highest level in more than four years, the Bank of Korea (BOK) said. The index is calculated by dividing the index for export prices by that for import prices.
Index of export volume rose by 6 percent in January from a year earlier, and index of import volume also rose by 6.3 percent, the BOK said.
However, the export value and import value indices fell by 4.1 percent and 11.3 percent, respectively, it said.
reporter
Park Sae-jin
swatchsjp@ajunews.com
