Trade terms drop for 16th month in a row in March

Home > Business > Economy

print dictionary print

Trade terms drop for 16th month in a row in March

Korea’s terms of trade fell for the 16th straight month in March as the nation’s export-reliant economy struggled with slowing demand and trade disputes, data showed Wednesday.

The terms of trade index for products reached 92.27 last month, down 5.1 percent from a year earlier, according to the preliminary data from the Bank of Korea (BOK).

The trade terms index measures the amount of imports a country can purchase for each unit of exports.

The figure has been on a constant decline since December 2017, when the index lost 3.5 percent on year.

Moreover, the index has remained below the benchmark 100 line for the 16-month period. A reading below 100 means import prices are higher than those of exports, resulting in unfavorable terms of trade.

The index of exports volume slid 3 percent on year to 151.16 in March, and the one for imports volume stood at 128.32, down 6.1 percent from a year earlier.


Yonhap

More in Economy

Hangeoleum model compromise is achieved for minbak

On the campaign trail

Online courses get failing grades from tech students

Help after the rains

Plush protest

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now