SEOUL, June 11 (Yonhap) — South Korea’s export prices rose in May, marking the sixth straight monthly gain amid a robust recovery in exports, central bank data showed Friday.
The country’s export price index, in terms of the local currency, rose 1.5 percent in May from the previous month, according to the preliminary data from the Bank of Korea (BOK).
The reading marked the sixth consecutive month of an on-month rise. In April, the index rose 2.2 percent on-month.
From a year earlier, the index jumped 12.3 percent, the BOK data showed.
South Korea’s exports jumped 45.6 percent on-year in May to extend their gains to a seventh consecutive month due to strong demand for chips amid the global economic recovery.
Outbound shipments came to US$50.7 billion last month, compared with $34.8 billion a year earlier, according to government data.
Imports rose 37.9 percent to $47.8 billion, resulting in a trade surplus of $2.93 billion. It marked the 13th consecutive month for the country to post a trade surplus.
South Korea’s import prices gained 2.6 percent on-month in May, mainly due to higher oil prices, the BOK said.