South Korea’s export prices fell in May due to the strong won and a drop in oil prices, central bank data showed Friday.
Export prices fell 1 percent in May, according to data. Still, year-on-year, export prices jumped 5.3 percent last month, marking the seventh consecutive month of gains.
Export prices of industrial goods fell 1 percent month-on-month, according to the latest tally, while those of agricultural and fisheries products climbed 1 percent during the same period.
Import prices also fell 1.4 percent in May from a month earlier, due to a fall in oil prices. Year-on-year, import prices jumped 4.1 percent, the central bank said.