Menu Content

Economy

S. Korea's 2020 Export Prices Post Largest Drop in 6 Years

Write: 2021-01-14 08:40:58Update: 2021-01-14 11:51:46

S. Korea's 2020 Export Prices Post Largest Drop in 6 Years

Photo : YONHAP News

South Korea's export prices fell more than five percent last year to post the largest on-year drop in six years. 

According to data from the Bank of Korea(BOK) on Thursday, the country's export price index, in terms of the local currency, dropped by point-one percent in December from a month earlier. 

The reading marks the fifth consecutive month of on-month drops since August.

From a year earlier, the index plunged five-point-four percent, marking the 19th straight month of on-year decline. 

For all of 2020, export prices slipped five-point-three percent, the largest on-year drop since 2014, when it fell six percent. 

The local currency's appreciation against the U.S. dollar contributed to last month's fall in export prices, as the won gained one-point-nine percent on-month against the greenback, or six-point-nine percent on-year.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >