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S. Korea's export prices drop in July

Economy 06:00 August 14, 2019

SEOUL, Aug. 14 (Yonhap) -- South Korea's export prices fell for a second consecutive month in July while import prices rose slightly from a month earlier, central bank data showed Wednesday, indicating a possible dip in the country's trade conditions.

The export price index, in terms of Korean won, came to 100.56 for the month, down 0.2 percent from 100.79 the month before, according to preliminary data from the Bank of Korea (BOK).

From a year earlier, the index marked a 5.3 percent drop. The export price index also dropped 0.2 percent on-month in terms of foreign currencies.

Export prices of agricultural products gained 0.1 percent from a month earlier in July, but those of manufactured goods dipped 0.2 percent.

The import price index, on the other hand, gained 0.6 percent from a month earlier to 110.00 in July, marking a turnaround from a 3.5 percent on-month drop in June.

A drop in export prices and a rise in import prices may show worsening trade conditions for Asia's fourth-largest economy in the same month, with exports having been on the decline for eight consecutive months since December.


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