South Korea's Export Prices Up 3.2% Last Month

South Korea's export prices increased 3.2% in October from a month earlier due to a weaker local currency and strong demand for electric and electronic products, central bank data showed Monday. 
The won fell 1.6% against the dollar on average in October compared to a month earlier. It marked the biggest fall since February in 2009 when the won fell 4.8% against the dollar from a month earlier, according to South Korea's (Yonhap) News Agency. 
In local currency terms, export prices fell 1.6% last month from a year earlier, according to preliminary data from the Bank of Korea (BOK). 
Export prices of industrial goods slipped 1.6% year-on-year in October while those of agricultural and fisheries products climbed 7.8% during the same period. 
South Korea's exports fell for the second straight month in October due mainly to sluggish shipments of cars and mobile devices. 
Outbound shipments came to US$41.9 billion last month, down 3.2% from $43.4 billion the same month last year, according to government data. 
Import prices, in local currency terms, rose 4.3% in October from a month earlier due to higher oil prices and a weaker local currency. Import prices fell 0.6% last month from a year earlier. 
The monthly average price of Dubai crude, South Korea's benchmark, stood at $48.97 a barrel in October, up from $43.33 from a month earlier.