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S. Korea's terms of trade falls for 17th month in row in April

All News 13:40 May 24, 2019

SEOUL, May 24 (Yonhap) -- South Korea's terms of trade dropped for the 17th straight month in April as the nation's export-reliant economy grappled with weaker global demand and renewed trade disputes, data showed Friday.

The terms of trade index for products stood at 91.96, down 6.4 percent from a year earlier, according to the preliminary data from the Bank of Korea (BOK).

The trade terms index measures the amount of imports a country can purchase for each unit of exports.

S. Korea's terms of trade falls for 17th month in row in April - 1

The figure has been on a constant decline since December 2017, when the index lost 3.5 percent on-year.

Moreover, the index has remained below the benchmark 100 line for the 17-month period. A reading below 100 means import prices are higher than those of exports, resulting in unfavorable terms of trade.

The index of exports volume rose 2.4 percent on-year to 113.83 in April, and that of imports volume stood at 114.15, up 1.6 percent from a year earlier.

South Korea's exports fell 2 percent in April from a year earlier, extending their on-year fall to the fifth consecutive month, according to government data.

Outbound shipments came to US$48.86 billion for April, down from the $49.85 billion tallied a year earlier. Imports rose 2.4 percent in April to $44.74 billion.

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