Nation's Income Trade Terms Reach Record High in Q2
The nation's income terms of trade rose to a record high in the second quarter.
The Bank of Korea (BOK) said Thursday that the nation's income terms of trade index reached 119-point-eight in the second quarter, the highest mark since 1988. The base year is 2005 with a benchmark index of 100.
The figure shows that the import volume capable of being purchased using the total value of exports increased 19-point-eight percent in the second quarter from 2005.
The record high growth in the index is attributed to falling oil prices and increases in exports.