[THE INVESTOR] South Korea’s export prices fell for a 50th consecutive month in September, central bank data showed on Oct. 14.

In local currency terms, export prices fell 8.3 percent last month from a year earlier, according to preliminary data from the Bank of Korea.

From a month earlier, however, export prices gained 0.7 percent, it said.

Export prices of industrial goods slipped 8.4 percent year-on-year in September while those of agricultural and fisheries products climbed 10 percent during the same period.

South Korea’s exports backtracked 5.9 percent from a year earlier in September due mainly to sluggish shipments of cars and mobile devices. Outbound shipments came to US$40.9 billion last month, down from $43.4 billion the same month last year, according to government data.

Import prices, in local currency terms, also dropped 7.8 percent on-year last month due to lower oil prices.

The monthly average price of Dubai crude, South Korea’s benchmark, stood at US$43.33 a barrel in September, down from $45.77 from a year earlier.

Source:  Export/Import Price Indices - September 2016


(theinvestor@heraldcorp.com)