South Korea's trade terms worsened in the third quarter as import price growth outpaced export price rise, the central bank said Monday.
Net terms-of-trade index for goods, calculated by dividing per- unit export price index by per-unit import price index, stood at 78.7 during the July-September period, down 9.9 percent from a year earlier, the Bank of Korea (BOK) said in a statement.
The aggravated trade terms came as the per-unit import price growth outpaced per-unit export price advance amid rising commodity prices, according to the BOK.
The per-unit import price index jumped 21.5 percent on-year for the three months ended Sept. 30 due to higher raw material prices.
The per-unit export price index gained 9.5 percent in the third quarter from a year earlier as price rise in petroleum products overshadowed price declines in semiconductors, the BOK said.