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.
Park So-yeon firstname.lastname@example.org
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