South Korea Export Prices Slip 2.3% On Year In January

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Export prices in South Korea were down 2.3 percent on year in January, the Bank of Korea said on Tuesday – beating forecasts for a decline of 5.1 percent after sinking 5.4 percent in December.

Prices for agricultural and forestry products fell an annual 5.7 percent and manufacturing products slid 2.2 percent.

Import prices sank an annual 6.7 percent versus expectations for a drop of 11.2 percent after falling 10.2 percent in the previous month.

Prices for raw materials plunged 14.9 percent, while intermediate, capital and consumer goods also were down.

On a monthly basis, export prices rose 1.8 percent after rising 0.6 percent in December – and import prices gained 2.8 percent after climbing 2.1 percent a month earlier.

The material has been provided by InstaForex Company – www.instaforex.com

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