The Bank of Korea (BOK) announced on Tuesday that South Korea’s terms of trade had increased for the fourth month in succession in September. The nation’s net terms-of-trade index for goods, which gauges the amount of imports a country can acquire for each unit of exports, rose by 4.5 percent year-over-year. This is a sign of better trade terms, as a lower figure would show a worse situation.
The Ministry of Trade, Industry and Energy reported that South Korea’s exports were down for the twelfth month in a row in September, but the rate of decrease was the least so far this year, due to a resurgence in global demand for semiconductors.
Outbound shipments dropped 4.4 percent year-over-year to a total of US$54.66 billion last month.