South Korea's terms of trade dropped on-year in March for the 16th consecutive month,... mainly due to the falling prices of memory chips, one of the country's main export items.
According to the Bank of Korea on Wednesday,.... the country's net barter terms of trade index last month came to around 92,... a more than five-percent drop on-year.
Terms of trade measures the amount of imports a country can buy for each unit of exports... relative to the base year of 2010.
The central bank attributed the fall to lower semiconductor prices,... which made imports relatively more expensive.
The export volume index decreased three percent in March compared to the year before.
The corresponding index for imports slumped more than six percent.
