S. Korea's Trade Terms Drop For 16th Month In A Row In March

South Korea's terms of trade fell for the 6th straight month in March as the nation's export-reliant economy struggled with slowing global demand and trade disputes, data showed Wednesday

SEOUL, (UrduPoint / Pakistan Point News - 24th Apr, 2019 ) :South Korea's terms of trade fell for the 6th straight month in March as the nation's export-reliant economy struggled with slowing global 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.

South Korea's exports declined 8.2 percent in March from a year earlier, according to government data. Outbound shipments came to US$47.1 billion for March, and imports fell 6.7 percent on-year to $41.8 billion.