Sun, 28 Feb 2021

SEOUL, Jan. 14 (Xinhua) -- The price for imported goods to South Korea recorded the first rebound in six months owing to higher global crude oil price, central bank data showed Thursday.

The import price index gained 1.8 percent in December last year from a month earlier, according to the Bank of Korea (BOK).

It was attributable to higher crude oil price. Dubai crude, South Korea's benchmark, averaged 49.84 U.S. dollars per barrel in December 2020, up from 43.42 dollars in the previous month.

Price for imported raw materials advanced 6.9 percent in December last year from the previous month amid expensive crude oil.

Intermediary goods price added 0.8 percent, but those for capital and consumer goods slumped 0.7 percent and 1.0 percent each.

The export price index fell 0.1 percent in December 2020 from a month ago, keeping a downward trend for five straight months.

The price fall came on the back of the strong local currency. The won/dollar exchange rate averaged 1,095.13 won per dollar in December last year, down from 1,116.76 won per dollar in November 2020.

Price for exported coal and oil products picked up 10.9 percent in December last year from a month earlier on higher crude oil price.

Price for exported computers, electronic and optical devices shrank 1.3 percent.

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