South Korea's export price index has fallen more than eleven percent on-year in November amid a drop in semiconductor prices due to a sluggish global economy.

According to the Bank of Korea on Thursday, the export price index stood at 124-point-58 in November, down eleven-point-three percent from the previous year.

The drop was the biggest in two and a half years and represents the second consecutive month of downward movement after falling in October.

By item, the fall was led by a decrease in exports of computers, electronics and optical devices, followed by primary metal products and textile and leather products.

Meanwhile, the import price index increased by three-point-three percent on-year on the back of increasing oil prices to stand at 164-point-54, maintaining an upward streak for 24 months.