S. Korea's export prices rise for 3rd month in February
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This photo taken March 2, 2021, shows container ships docked at a port in Busan. (Yonhap)
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South Korea’s export prices rose in February, marking the third straight monthly gain helped by a modest recovery in exports, central bank data showed Tuesday.
The country’s export price index, in terms of the local currency, rose 3.1 percent in February from the previous month, according to the preliminary data from the Bank of Korea (BOK).
The reading marked the third consecutive month of an on-month rise. In January, the index rose 1.8 percent on-month.
From a year earlier, the index rose 0.2 percent, marking the first annual gain in 21 months.
South Korea’s exports grew 9.5 percent in February from a year earlier to extend their gains for the fourth consecutive month on robust shipments of chips.
Exports came to $44.8 billion last month, compared with $40.9 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.
Imports rose 13.9 percent to $42.1 billion, resulting in a trade surplus of $2.71 billion. It marked the 10th consecutive month for the country to post a trade surplus.
South Korea’s import prices also gained 3.8 percent on-month in February, mainly due to rising oil prices, the BOK said. (Yonhap)