ZCZC
BCN-41
S.KOREA-TRADE-OIL
South Korea’s trade terms worsen on expensive crude oil
SEOUL, June 27, 2018 (BSS/Xinhua) – South Korea’s terms of trade worsened
last month on expensive crude oil, central bank data showed Tuesday.
The net terms-of-trade index for goods shrank 5.3 percent in May from a
year earlier, after sliding 5 percent in the previous month, according to the
Bank of Korea (BOK).
It was the biggest fall since April 2012. The index measures the amount of
imports that can be made with proceeds of a unit export.
Import prices moved up on expensive crude oil. Global oil pries surged
46.7 percent in May from a year ago.
The import value index jumped 13.5 percent on higher crude oil price,
while the import volume index gained 2.7 percent.
In terms of volume, exports advanced 13.8 percent due mainly to robust
demand for locally-made semiconductors. The export value index jumped 19.1
percent on higher oil product prices.
BSS/XINHUA/HR/1220