South Korea’s export prices dropped from a month earlier in April, primarily due to the strengthening Korean won against the U.S. dollar, central bank data showed Thursday.
The export price index reached 78.19 last month, down 3.4 percent from a revised 80.97 the previous month, according to preliminary data from the Bank of Korea.
Goods wait to be shipped at Busan Port. (Yonhap)
From a year earlier, the April reading marks a 5.7 percent decline. April marks the fourth consecutive month in which prices have dropped on-year.
The drop was mostly attributed to the strengthening of the South Korean won against the U.S. greenback, which traded at 1,147.51 won against the U.S. dollar on average in April, up 3.4 percent from the average 1,188.21 won in the previous month, according to the BOK.
Export prices of agricultural and fishery products slipped 0.9 percent on-month in April while those of industrial goods retreated 3.4 percent from a month earlier.
Import prices too suffered a setback due to the won’s appreciation, slipping 1.9 percent on-month, marking a 7.2 percent cut from a year earlier.
(khnews@heraldcorp.com)
