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| ▲ Containers are stacked at a pier in South Korea's largest port city of Busan, in this file photo taken July 4, 2023. (Yonhap) |
trade terms-September tally
S. Korea's trade terms improve for 4th month in September
SEOUL, Oct. 31 (Yonhap) -- South Korea's terms of trade rose for the fourth month in a row in September as import costs fell at a faster pace than export prices, central bank data showed Tuesday.
The country's net terms-of-trade index for goods -- a gauge of overall trade terms -- increased 4.5 percent last month from a year ago, according to the preliminary data from the Bank of Korea (BOK).
The index shows the amount of imports a country can buy for each unit of exports, with a lower figure meaning worse trade terms.
It is calculated by dividing the index for export prices by that for import prices.
The country's exports fell for the 12th consecutive month in September but logged the smallest on-year decline so far this year, as global demand for semiconductors has been on the recovery track, government data showed.
Outbound shipments fell 4.4 percent on-year to US$54.66 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy.
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