BUSINESS S. Korea's import price falls on strong local currency

BUSINESS

S. Korea's import price falls on strong local currency

Xinhua

14:28, December 13, 2019

SEOUL, Dec. 13 (Xinhua) -- South Korea's import price fell last month as the local currency appreciated against the U.S. dollar, central bank data showed Friday.

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File photo: VCG

Price for imported goods slipped 1.0 percent in November from a month earlier, according to the Bank of Korea (BOK).

It came as the won/dollar exchange rate averaged 1,167.45 won per dollar in November, down 16.68 won from the previous month.

Price for imported coal and oil product skidded 2.2 percent, with those for chemical product sliding 1.7 percent.

Import price for computer, electronic and optical devices declined 1.2 percent last month.

Price for export products dipped 1.8 percent in November from a month ago due to the domestic currency's ascent to the greenback.

Export price for computer, electronic and optical devices retreated 1.7 percent amid the continued downturn of the global chip industry.

Price for exported coal and oil products slumped 2.7 percent, and export price for chemical product diminished 2.3 percent.

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