Korea's terms of trade fell to 3-year low in June on higher oil prices
계속되는 유가 상승…6월 교역조건 3년7개월 만에 최악
Imports got more expensive for Korea last month.
The nation's trade term index fell to a three-year low due to higher oil prices.
The index measures the unit-for-unit price of imports in terms of the country's exports.
According to the Bank of Korea, it came to ninety three point two-nine, a seven point three percent drop from last year.
It's the lowest since November of 2014.
This stems from high oil prices.
Last month it spiked about forty-seven percent during the same period, jacking up import prices along the way.
But, another key index improved.
The import terms of trade, the amount of imports a country can buy for its total exports, rose Point-four percent on-year to one-hundred-forty six.
Imports got more expensive for Korea last month.
The nation's trade term index fell to a three-year low due to higher oil prices.
The index measures the unit-for-unit price of imports in terms of the country's exports.
According to the Bank of Korea, it came to ninety three point two-nine, a seven point three percent drop from last year.
It's the lowest since November of 2014.
This stems from high oil prices.
Last month it spiked about forty-seven percent during the same period, jacking up import prices along the way.
But, another key index improved.
The import terms of trade, the amount of imports a country can buy for its total exports, rose Point-four percent on-year to one-hundred-forty six.