SEOUL: South Korea's terms of trade fell for the 6th straight month in March as the nation's export-reliant economy struggled with slowing global demand and trade disputes, data showed Wednesday.
The terms of trade index for products reached 92.27 last month, down 5.1 percent from a year earlier, according to the preliminary data from the Bank of Korea (BOK).
The trade terms index measures the amount of imports a country can purchase for each unit of exports.
The figure has been on a constant decline since December 2017, when the index lost 3.5 percent on-year.
Moreover, the index has remained below the benchmark 100 line for the 16-month period. A reading below 100 means import prices are higher than those of exports, resulting in unfavorable terms of trade.
The index of exports volume slid 3 percent on-year to 151.16 in March, and the one for imports volume stood at 128.32, down 6.1 percent from a year earlier.
South Korea's exports declined 8.2 percent in March from a year earlier, according to government data. Outbound shipments came to US$47.1 billion for March, and imports fell 6.7 percent on-year to $41.8 billion.
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