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This file photo, taken June 4, 2020, shows stacks of cargo containers at South Korea's largest seaport of Busan, 450 kilometers southeast of Seoul. (Yonhap) |
South Korea's terms of trade rose for the 12th consecutive month in March, as exports have shown signs of a strong recovery, central bank data showed Thursday.
The nation's net terms-of-trade index for goods -- a gauge of trade terms -- increased 3.6 percent last month from a year earlier, according to preliminary data from the Bank of Korea (BOK).
It marked the 12th straight month of an on-year rise since April last year, when the trade terms logged the first on-year hike in over two years on low oil prices amid the fallout of the COVID-19 pandemic.
The figure is calculated by dividing the index for export prices by that for import prices. It shows the amount of imports a country can buy for each unit of exports. The base year is 2015, with a benchmark index of 100.
Last month, the index for customs-cleared export prices went up 11.1 percent from the previous year, marking the fifth straight month of increase.
The index for import prices rose 7.2 percent from a year earlier, according to the data. (Yonhap)
