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S. Korea's trade terms rise for 9th straight month in Dec.

Bank of Korea (Yonhap)
Bank of Korea (Yonhap)
South Korea's terms of trade rose for the ninth consecutive month in December as export prices increased at a faster pace than import prices, central bank data showed Thursday.

The nation's net terms-of-trade index for goods -- a gauge of trade terms -- increased 7.2 percent last month from a year earlier, according to preliminary data from the Bank of Korea (BOK).

It marked the ninth straight month of an on-year rise since April, when the trade terms logged the first on-year hike in over two years on low oil prices amid the fallout of the COVID-19 pandemic.

The figure is calculated by dividing the index for export prices by that for import prices, showing the amount of imports a country can buy for each unit of exports. The base year is 2015, with a benchmark index of 100.

Last month, the index for customs-cleared export prices gained 9.6 percent from the previous year, marking the second straight month of increase.

The index for import prices rose 2.8 from a year earlier, the first annualized hike in nine months, according to the data. (Yonhap)