trade terms-Feb tally

trade terms-Feb tally

Trade terms continue to fall in Feb. on faster export price fall

SEOUL, March 28 (Yonhap) -- South Korea's terms of trade worsened for the 23rd straight month in February as export prices fell faster than import prices, central bank data showed Tuesday.

The country's net terms-of-trade index for goods came to 83.67 in February, down 4.5 percent from a year earlier, according to the preliminary data from the Bank of Korea.

Compared with a month earlier, the index was also down 1.1 percent.

The index is calculated by dividing the index for export prices by that for import prices. It shows the amount of imports a country can buy for each unit of exports, with a lower figure meaning worse trade terms.

February's decline stemmed from a faster price fall in exports relative to import prices.

Export prices fell 7.9 percent on-year in February, while import prices declined 3.6 percent over the same period, the data showed.

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