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S. Korea's terms of trade index falls for 16th consecutive month in March: BOK Updated: 2019-04-24 14:03:51 KST

The fall in semiconductor prices is hitting Korea's terms of trade index.
According to the Bank of Korea on Wednesday, the country's net barter terms of trade index in March came to 92.two-seven, a decline of more than 5-percent on-year.
Terms of trade measures the amount of imports a country can buy for each unit of exports relative to the base year of 2010.
The central bank pointed out that the index has been decreasing on-year for 16 consecutive months.
As for why, analysts point to the falling prices of memory chips, one of the country's main export items.
This follows lower demand for chips in the global market due to poor smartphone sales and less investment in data centers.

Meanwhile, the export volume and value indices dropped by 3-percent and almost 9-percent respectively.
The BOK said export volumes dropped on year for two consecutive months.
The fall was mainly observed in electronics and electrical equipment especially in the display sector.
When it comes to imports, the volume was down more than six-percent and the value of imports was down seven percent.
Machinery imports dropped mainly due to lower imports of semiconductor manufacturing machinery.
Analysts say, the fall in Korea's trade figures reflect the slower growth of the global economy.
Ko Roon-hee, Arirang News.
Reporter : krh@arirang.com
KOGL : Korea Open Government License
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