Export prices stay unchanged in June
[THE INVESTOR] Korea’s export prices remained unchanged in June from a month earlier, the central bank said on July 14.
In local currency terms, overall export prices remained flat month-on-month last month, according to preliminary data provided by the Bank of Korea.
Year-on-year, however, export prices rose 4.9 percent last month from May, marking the eighth consecutive month of gains.
The US dollar traded at an average of 1,130.04 won in June, up 0.4 percent from May. For exporters, the won’s depreciation means increased income as dollar-denominated earnings from their overseas businesses rise in terms of value when repatriated into the local currency.
Export prices of industrial goods fell 0.1 percent month-on-month, while those of agricultural and fisheries products rose 3.1 percent during the same period, the data showed.
By Alex Lee and newswires (firstname.lastname@example.org)