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S.Korea's trade terms worsen for 15 months in June

SEOUL
2022-07-28 15:36

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SEOUL, July 28 (Xinhua) -- South Korea's terms of trade worsened for the 15th consecutive month last month due to faster growth in import costs than export prices, central bank data showed Thursday.

The net terms-of-trade index for goods, which gauges the amount of import that can be bought with a unit-export proceed, stood at 85.18 in June, down 10 percent from a year earlier, according to the Bank of Korea (BOK).

The import value index soared 20.5 percent over the year to 167.54 in June, keeping an upward trend for 19 straight months on high energy costs.

The import volume index fell 1.3 percent to 120.53 on lower demand for mining and oil products.

The export value index advanced 6.9 percent from a year earlier to 139.52 in June, continuing to rise for 20 months in a row on higher export prices for oil products.

The export volume index declined 2.7 percent to 117.84 in June, marking the first slide in nine months on weaker demand for textiles and primary metal products.
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