S. Korea's terms of trade fell in May to worst level since late 2014
- 6 years ago
유가 상승에 교역조건 악화…3년5개월 만에 최악
South Korea's terms of trade have fallen to the worst level since December 2014... mainly due to rising oil prices.
According to the Bank of Korea, that index hit 93-point-3-7 in May, a decrease of 5-point-3 percent on-year.
The biggest decline in six years.
A country's terms of trade compares the amount of imports it can buy for each unit of exports.
Oil prices in May were 47 percent higher than the year prior, making imports more expensive since South Korea is dependent on other countries for almost all of its crude oil.
This trend has kept the index below 100 for six months straight.
South Korea's terms of trade have fallen to the worst level since December 2014... mainly due to rising oil prices.
According to the Bank of Korea, that index hit 93-point-3-7 in May, a decrease of 5-point-3 percent on-year.
The biggest decline in six years.
A country's terms of trade compares the amount of imports it can buy for each unit of exports.
Oil prices in May were 47 percent higher than the year prior, making imports more expensive since South Korea is dependent on other countries for almost all of its crude oil.
This trend has kept the index below 100 for six months straight.