S. Korea’s trade terms improve for 6th month in Nov.

South Korea’s terms of trade rose for the sixth consecutive month in November as import costs fell at a faster pace than export prices, central bank data showed Friday.

The country’s net terms-of-trade index for goods — a gauge of overall trade terms — improved 1.6 percent last month from a year ago, following the previous month’s 1.1 percent rise, according to the preliminary data from the Bank of Korea (BOK).

The index shows the amount of imports a country can buy for each unit of exports, with a lower figure meaning worse trade terms.

Import prices fell 5.1 percent on-year last month, sharper than the 3.5 percent dip in export prices.

It is calculated by dividing the index for export prices by that for import prices.

South Korea’s exports grew 7.8 percent in November, driven by a rebound in semiconductor shipments for the first time in 16 months.

Asia’s fourth-largest economy saw its monthly exports turn around for the first time in 13 months in October.

by TTU

Source YNA