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S. Korea's Export, Import Prices Drop in September

Write: 2019-10-16 09:33:26Update: 2019-10-16 13:39:47

S. Korea's Export, Import Prices Drop in September

Photo : YONHAP News

South Korea's export and import prices both dropped from a month earlier in September largely due to the strength of the local currency against the U.S. dollar.

According to data by the Bank of Korea(BOK) on Wednesday, the export price index came to 101-point-03 last month, down point-eight percent from a month earlier.  

The reading marks a five-percent drop from the same month last year. 

The central bank said the fall was largely attributable to a strong Korean won, which traded at one-thousand-197-point-55 to the dollar on average last month, up point-nine percent from the previous month.

The import price index came to 110-point-59 last month, down point-four percent from a month earlier and two-point-two percent from a year earlier.

The BOK said that the import prices fell in spite of rising oil prices due to the strong won.

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