Tue, 26 Sep 2023

S. Korea's export volume rebounds in February

28 Mar 2023, 13:55 GMT+10

SEOUL, March 28 (Xinhua) -- South Korea's February export volume marked a rebound due to solid demand for transport equipment and oil products, central bank data showed Tuesday.

The export volume index gained 1.1 percent in February from a year earlier after skidding for the past four months since October last year, according to the Bank of Korea (BOK).

In terms of volume, outbound demand jumped in double digits for locally-made oil products, transport equipment, and machinery.

The export value index declined 6.9 percent in February on a yearly basis, continuing to fall for the fifth consecutive month amid the lower semiconductor price.

The import volume index increased 6.7 percent in February from a year earlier, while the import value index climbed 3.0 percent last month.

Both indices logged the first turnaround in three months owing to higher demand for chemical and mining products.

The net terms-of-trade index for goods, which gauges the amount of import that can be bought with a unit-export proceed, retreated 4.5 percent last month on the faster fall in export prices than import prices.

The index kept a downward trend for 23 months in a row.

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