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South Korea import price falls in January

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Christian Fernsby ▼ | February 14, 2020
Price for imported products to South Korea fell last month on the local currency's ascent versus the U.S. dollar, central bank data showed.
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The import price index slipped 0.8 percent in January from a month earlier, according to the Bank of Korea (BOK).

Topics: South Korea import price

It came as the domestic currency appreciated versus the greenback. The won/dollar exchange rate averaged 1,164.28 won per dollar in January, down 1.0 percent from the previous month.

Dubai crude, South Korea's benchmark, averaged 64.32 U.S. dollars per barrel last month, down 0.9 percent from a month ago.

Price for imported crude oil declined 1.9 percent, with those for naphtha and liquefied natural gas (LNG) skidding 3.2 percent and 2.0 percent each.

The export price index retreated 0.8 percent in January from a month earlier on the local currency's ascent and cheaper crude oil.

Price for exported coal and oil products fell 2.8 percent, with the price for computer, electronic and optical devices sliding 0.7 percent last month.


 

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