Korea’s export prices fell in November from a month earlier for the first time in five months, central bank data showed on Dec. 12.
In local currency terms, overall export prices dropped 1.8 percent last month from the previous month, snapping a four-month rise that started in July, according to the preliminary data provided by the Bank of Korea. On an on-year basis, export prices rose 2.3 percent in November.
The BOK said the local currency gained 2.3 percent on-month against the US dollar to an average 1,105.04 won in November over the one-month period.
Export prices of agro-fisheries products decreased 2.8 percent last month from a month ago, while those of chemical products and electronic goods lost 1.3 percent and 2.6 percent, respectively, during the same period.
Meanwhile, import prices edged down 0.4 percent in November from a month earlier due to the currency appreciation, according to the central bank, and the same index climbed 3.9 percent over the year to last month.
It marked the first on-month drop since June, when it fell 1.2 percent.
By Alex Lee and newswires (firstname.lastname@example.org