S. Korea's export prices down for 5th straight month in December

Economy 06:00 January 14, 2021

SEOUL, Jan. 14 (Yonhap) -- South Korea's export prices fell for the fifth consecutive month in December last year as the local currency continued to strengthen against the U.S. dollar, central bank data showed Thursday.

The country's export price index, in terms of the local currency, declined 0.1 percent in December from the previous month, according to the preliminary data from the Bank of Korea (BOK).

The reading marked the fifth consecutive month of on-month decline after the index rose for the third month in a row in July.

From a year earlier, the index sank 5.4 percent, marking the 19th straight month of on-year decline.

For all of 2020, the nation's export prices slipped 5.3 percent, the BOK said.

The Korean currency rose 1.9 percent against the U.S. dollar on-month in November.

South Korea's import prices gained 1.8 percent on-month in December last year, due mainly to rising oil prices, the BOK said.

Import prices tumbled 8.7 percent on-year in 2020, the BOK said.