(MENAFN- Arab Times) South Korea's terms of trade improved for the ninth consecutive month in November as import prices fell at a faster pace than export costs, the central bank said Monday.
The country's net terms-of-trade index for goods -- a gauge of trade terms -- came in at 89.7 in November, up 2.7% from a year earlier, according to the Bank of Korea (BOK)
The index is calculated by dividing the export price index by the import price index
The base year is 2010 with a benchmark index of 100, according to (Yonhap) news agency
The BOK said import prices declined at a faster clip than export costs, improving Korea's net terms-of-trade index for goods from the previous year
Korea's income terms-of-trade index, another gauge of trade terms, sharply improved last month from a year earlier as the volume of exports picked up
The income terms-of-trade index reached 118.5% in November, up 4.4% from a year earlier, according to the BOK
The index measures how much can be imported with the total export value
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