SEOUL, Aug 20 (Xinhua): South Korea's terms of trade worsened in the second quarter from three months earlier due to rising costs for crude oil imports, the central bank said today.
According to the Bank of Korea (BoK), South Korea's net terms-of-trade index for goods fell 3.6 per cent to 71.3 in the April-June period, compared with 74.0 in the first quarter.
"Per-unit import costs grew at a faster pace than per-unit export prices due to a hike in international crude oil prices," said a statement by the BoK.
The index for per-unit import costs rose 5.2 per cent quarter-on-quarter to 130.6 in the three-month period as prices of raw materials, machinery and electronic equipment increased, the BoK said.
The index for per-unit export prices increased 1.3 per cent to 93.1 on higher petroleum and light-industry product prices, the statement added.
The average price of Dubai crude oil, South Korea's benchmark, climbed to 65.85 US dollars a barrel in June from 63.98 US dollars in April.
S Korea's trade terms worsen in Q2
FE Team | Published: August 21, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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