Semiconductor Price Gains Push Korea Export Prices to 28-Year High

According to the Bank of Korea’s preliminary April export-import price and trade index released on the 15th, the import price index stood at 168.12, with 2020 set at 100, down 2.3% from 172.16 a month earlier. The decline ended nine straight months of increases. The central bank attributed the shift to a drop in global oil prices after a sharp rise in March. Dubai crude averaged $105.70 a barrel in April, down 17.8% from $128.52 in the previous month. Lee Moon-hee, head of the price statistics team, said the import price index is calculated mainly based on prices contracted during the month. Meanwhile, export prices reached their highest level in 28 years and one month, supported by rising semiconductor prices. Source: rss.donga.com