Exports of Computers, Electronics, and Optical Devices Up 30.5%
Terms of Trade Decline for 27 Consecutive Months
[Asia Economy Reporter Jang Sehee] Last month, the export-import trade index rose across the board due to improvements in the semiconductor industry. However, the terms of trade showed a decline for the 27th consecutive month as export prices fell more sharply than import prices.
According to the "February Trade Index and Terms of Trade" released by the Bank of Korea on the 25th, the export volume index last month was 104.74 (2015=100), up 11.4% compared to the same month last year. Although exports of transport equipment decreased, exports of computers, electronic and optical devices increased.
The export value index also rose 3.4% year-on-year, marking an increase for the first time in 15 months. The export value index turned upward after 15 months.
Both import volume and import value also increased. The import volume index was 98.04, up 1.5% year-on-year, mainly due to computers, electronic and optical devices (18.7%) and coal and petroleum products (35.5%).
The import value was 102.46, up 0.1% year-on-year, marking an increase for the first time in 10 months. Although mining products decreased, computers, electronic and optical devices rose.
Meanwhile, the net goods terms of trade index fell 5.8% year-on-year. This was because export prices fell more sharply than import prices. The net goods terms of trade index has remained below the base value of 100 for 27 consecutive months since December 2017 (99.52). This is the longest period since the 31-month decline from December 2009 to June 2012.
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