South Korea's Terms of Trade Improve in June

South Korea's terms of trade improved from a year earlier in June due to bigger declines in import prices compared to drops in export prices, central bank data showed Monday. 
The terms of trade index for products came to 100.86 last month, up 0.8% 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 its exports, showing how the country's exports are doing in comparison with those of others. 
The BOK data showed that in June, export prices fell 9.9% from a year ago, while import prices dropped 10.6%, according to South Korea's (Yonhap) News Agency. 
The income terms of trade also rose 2.3% year over year to 118.85 last month from a year earlier. The income terms of trade measures the amount of imports the country can purchase with the total value of its exports, the data said.