SEOUL, Jan. 24 (Yonhap) -- South Korea's terms of trade improved in December from a year earlier as a slight rise in import prices was offset by a hike in export prices, central bank data showed Tuesday.
The terms of trade index for products came to 102.63 last month, up 1.9 percent from a year earlier, according to preliminary data from the Bank of Korea (BOK).
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 with those of others.
In December, export prices rose 4.9 percent from a year ago, while import prices increased 2.9 percent, the BOK data showed.
The income terms of trade rose 5 percent year-over-year to 149.55 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.
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