The net terms-of-trade index for goods reached a fresh low of 82.55 in July, down 11.4 percent from a year earlier, according to the Bank of Korea (BOK).
It was the fastest decline in 11 years since August 2011.
The import costs jumped 18.0 percent in July from a year earlier, while the export prices gained 4.6 percent.
The import value index soared 22.7 percent over the year to 182.55 in July, keeping an upward trend for 20 straight months amid higher prices for mining products and farm goods.
The import volume index rose 4.0 percent in July, after sliding 1.2 percent in the previous month.
The export value index advanced 8.1 percent from a year earlier to 143.16 in July, continuing to gain for 21 months in a row amid higher oil products price.
The export volume index increased 3.4 percent in July after skidding 2.5 percent in the prior month.
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