South Korea's terms of trade deteriorated slightly in March from a year earlier as a rise in export prices was offset by a hike in import prices, central bank data showed Tuesday.

The terms of trade index for products came to 99.57 last month, down 4.5 percent from a year earlier, according to preliminary data from the Bank of Korea.

The index measures the amount of imports a country can purchase for each unit of exports, showing how the country's exports are doing in comparison to others.

In March, export prices rose 10.2 percent from a year ago, while import prices increased 15.4 percent, the BOK data showed.

The income terms of trade rose 0.2 percent on-year to 150.61 last month, the data showed. The income terms of trade measures the amount of imports the country can purchase with the total value of its exports. (Yonhap)