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THE INVESTOR] South Korea’s export prices continued to fall in June, mainly on the back of lower international oil prices, according to preliminary Bank of Korea data on July 13.
Export prices, in terms of the Korean currency, fell 4.9 percent on-year in June, with the pace quickening from a 4 percent decline in May.
The country’s export price index came to 77.97 percent last month, up 0.7 percent from 77.44 percent the previous month, according to the central bank data.
However, from a month earlier, prices were up slightly by 0.2 percent, slowing from a 2.4 percent on-month gain in May.
In particular, export prices of gasoline and diesel plunged 21.4 percent compared to June 2015. Prices of chemical products fell 10.4 percent.
Meanwhile, import prices also fell, declining 4.9 percent on-year.
By Yun Jeong-hyeon (
clareyun@heraldcorp.com)