SEOUL: South Korea’s terms of trade improved from a year earlier in October due to a decline in import prices and a slight increase in export prices, central bank data showed Wednesday. The terms of trade index for products came to 102.92 last month, up 1.4 percent from a year earlier, according to preliminary data from the Bank of Korea.
The index measures the amount of imports a country can purchase for each unit of exports, showing how the country’s exports are doing in comparison with those of others. In October, export prices rose 0.2 percent from a year ago, while import prices dropped 1.2 percent, the BOK data showed. The income terms of trade fell 3.9 percent year-over-year to 140.38 last month, the data showed. The income terms of trade measures the amount of imports the country can purchase with the total value of its exports.
