S. Korea's Terms of Trade Improve in October

South Korea's terms of trade improved from a year earlier in October due to a decline in import prices and a slight increase in export prices, central bank data showed Wednesday.

    The terms of trade index for products came to 102.92 last month, up 1.4% 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.

    The BOK data showed that in October, export prices rose 0.2% from a year ago, while import prices dropped 1.2%, according to South Korea's (Yonhap) News Agency.

    The income terms of trade fell 3.9% year-over-year to 140.38 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.

Source: QNA