Import price index rises 32% YoY in May l KBS WORLD

Photo: Yonhap News

South Korea’s import price index in May jumped more than 30% from a year ago, mainly due to higher global oil prices.

According to data released by the Bank of Korea (BOK) on Wednesday, the import price index last month rose 32 percent year on year to 176.5 points, up for the 18th consecutive month.

The index of mining products jumped 75.7%, while that of metal products and those of coal and petroleum posted gains of 42.1% and 40.6% respectively.

The import volume index in May stood at 128.08 points, up 6.2% from a year earlier. The index fell 5% year-on-year in April before posting an upward trend again last month.

The export price index in May, meanwhile, rose 19.9% ​​year-on-year to 146 81 points, while the export volume index reached 124 86 points, with an increase year-over-year by seven points. nine percent.

BOK data showed Korea’s net terms of trade index in the same month fell 10.6% from a year ago as the import price rose more than the export price.

The index, which gauges how much imports can be bought with a single unit of exports, has fallen for 14 straight months. A falling index means deteriorating trading conditions.

The income terms of trade index, which measures the amount of goods a country can import with its total exports, fell 3.6%, down for four straight months.

Comments are closed.