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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Weekly Briefs (Oct. 21 - 25)

Weekly Briefs (Oct. 21 - 25)

Oct. 28, 2013

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Monday, October 21
Upon falling import prices of raw materials, Korea's net barter terms of trade index rose for the seventh consecutive month. According to the Bank of Korea (BOK), September's net barter terms of index came in at 89.7, up 2.4% from the previous year. The net barter terms of trade indicates the quantity of products that can be purchased through the sale of a single export unit, using 2010 as the base year and 100 as the baseline. The growth in the index accelerated from July's 1.5% and August's 1% due to import prices falling faster than export prices. While the import price index dipped 4.1%, export prices shed 1.7% year-on-year. During the cited period, the export volume index went down 2.4% to log 122. Due to a fall in export volume despite improvement in the net barter terms of trade, the income terms of trade index slid 0.1% from September last year to 109.5 .

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