South Korea Export Prices Rise 2.9% In December

(RTTNews) - Export prices in South Korea picked up 2.9 percent on month in December, the Bank of Korea said on Wednesday.

That follows the 3.8 percent increase in November.

On a yearly basis, export prices gained 6.3 percent after climbing 3.5 percent in the previous month.

Export prices for agricultural, forestry and marine products were flat on month and up 12.9 percent on year after adding 2.2 percent on month and 14.1 percent on year in November.

Export prices for manufacturing products gained 2.9 percent on month and 6.3 percent on year after picking up 3.8 percent on month and 3.4 percent on year a month earlier.

Import prices were up 4.2 percent on month after adding 2.4 percent in November. Import prices also jumped 9.2 percent on year after gaining 3.6 percent a month earlier.

Import prices for raw materials jumped 11.6 percent on month and 30.7 percent on year, while intermediate goods were up 2.7 percent on month and 4.8 percent on year.

Import prices for capital goods shed 0.4 percent on month and gained 0.8 percent on year, while consumer goods were up 0.9 percent on month and down 0.1 percent on year.

For all of 2016, export prices were down 3.3 percent, while import prices sank 4.2 percent.