South Korea's terms of trade index fell to near 4-year low in July: BOK
- 6 years ago
Imports got more expensive for South Korea last month.
The Bank of Korea says the country's trade term index in July fell to a near four-year low due to rising oil prices.
The index measures the amount of imports a country can purchase per unit of export goods.
The index slumped... nine-point-seven percent last month from a year earlier.
It's now at its lowest point since November 2014.
The central bank attributed the sharp drop to rising oil prices…because South Korea relies heavily on crude imports.
The income terms of trade index, which measures how much a country can import with the total value of its exports, edged up one-point-six percent on-year in July.
The Bank of Korea says the country's trade term index in July fell to a near four-year low due to rising oil prices.
The index measures the amount of imports a country can purchase per unit of export goods.
The index slumped... nine-point-seven percent last month from a year earlier.
It's now at its lowest point since November 2014.
The central bank attributed the sharp drop to rising oil prices…because South Korea relies heavily on crude imports.
The income terms of trade index, which measures how much a country can import with the total value of its exports, edged up one-point-six percent on-year in July.