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This file photo shows stacks of import-export cargo containers at a port in Incheon, west of Seoul. (Yonhap) |
South Korea's terms of trade rose for the 11th consecutive month in February, as exports have shown signs of a gradual recovery, central bank data showed Wednesday.
The nation's net terms-of-trade index for goods -- a gauge of trade terms -- increased 6.4 percent last month from a year earlier, according to preliminary data from the Bank of Korea (BOK).
It marked the 11th 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 10.4 percent from the previous year, marking the fourth straight month of increase.
The index for import prices rose 15.1 percent from a year earlier, according to the data. (Yonhap)
