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Export prices up for 7th month in June

Economy 06:00 July 14, 2021

SEOUL, July 14 (Yonhap) -- South Korea's export prices rose in June, marking the seventh straight monthly gain amid a robust recovery in exports, central bank data showed Wednesday.

The country's export price index, in terms of the local currency, rose 0.7 percent in June from the previous month, according to the preliminary data from the Bank of Korea (BOK).

The reading marked the seventh consecutive month of an on-month rise. In May, the index rose 1.8 percent on-month.

From a year earlier, the index jumped 12.7 percent, the BOK data showed.

South Korea's exports jumped 39.7 percent on-year in June to extend their gains to an eighth consecutive month on the back of a recovery in global business activities, which led to stronger demand for chips and automobiles.

Outbound shipments came to US$54.8 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy.

Imports climbed 40.7 percent to $50.3 billion, resulting in a trade surplus of $4.44 billion. It marked the 14th consecutive month for the country to post a trade surplus.

South Korea's import prices gained 2.3 percent on-month in June, mainly due to higher oil prices, the BOK said.

Export prices up for 7th month in June - 1

kdh@yna.co.kr
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