South Korea's trade terms continued to worsen in October, with the net barter terms of trade index decreasing by 3.4 percent when compared to the previous month, according to data from the Bank of Korea (BOK) published on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 26th November, 2019) South Korea's trade terms continued to worsen in October, with the net barter terms of trade index decreasing by 3.4 percent when compared to the previous month, according to data from the Bank of Korea (BOK) published on Tuesday.
The trade terms index measures the quantity of imports that can be purchased through the sale of a single unit of exports. It has been in decline in the South Asian country since November 2017.
"The net barter terms of trade index decreased by 3.4% year-on-year in October of 2019," the BOK data indicated.
The export and import volume dipped by 4.6 and 6.5 percent year-on-year, respectively, while the export and import price index fell by 15.5 and 14.3 percent year-on-year, respectively.
According to the South Korean news outlet, Yonhap, the country's exports have been in decline partially due to a significant deceleration in global trade, which was triggered by a trade war between the United States and China � the largest importers of goods from South Korea. Exports are expected to shrink again this month.