 |
| Containers are stacked at a port in Busan, Aug. 1. Yonhap |
Korea's terms of trade rose for the second month in a row in July as import costs fell at a faster pace than export prices, central bank data showed Tuesday.
The country's net terms-of-trade index for goods ― a gauge of overall trade terms ― came to 86.90 last month, up 5.1 percent from a year ago, according to the preliminary data from the Bank of Korea (BOK).
The figure marked on-year growth in June for the first time since March 2021.
The index shows the amount of imports a country can buy for each unit of exports, with a lower figure meaning worse trade terms.
It is calculated by dividing the index for export prices by that for import prices.
July's improvement came as import prices sank 16.8 percent on-year due mainly to the decrease in global oil prices, while export prices went down 12.6 percent, the BOK said.
Korea's exports fell for the 10th consecutive month in July as global demand for semiconductors and other major items remained weak amid an economic slowdown.
Outbound shipments fell 16.5 percent on-year to $50.33 billion last month, with exports of semiconductors sinking nearly 34 percent, according to the Ministry of Trade, Industry and Energy. (Yonhap)
![[INTERVIEW] Hip-hop group Uptown returns after 13 years with new lineup](https://img.koreatimes.co.kr/upload/thumbnailV2/0eae35da5e9c40c38cf439e550a2eb3e.jpg/dims/resize/178/optimize)
![[INTERVIEW] ASTRO members aim to shine in musical theater](https://img.koreatimes.co.kr/upload/thumbnailV2/df16760dc50f469d93434f66a069465c.jpg/dims/resize/178/optimize)
