S. Korea’s trade terms improve for 6th month in May

South Korea's terms of trade rose for the sixth consecutive month in May as export prices rose and import prices fell, central bank data showed Friday. The country's net terms-of-trade index for goods -- a gauge of overall trade terms -- improved 4.9 percent last month from a year ago, following the previous month's 5.3 percent on-year rise, according to the preliminary data from the Bank of Korea. The index shows the amount of imports a country can buy for each unit of exports, with a lower figure meaning worse trade terms. Import prices fell 1.1 percent on-year last month, while export prices rose 3.8 percent. It is calculated by dividing the index for export prices by that for import prices. Source: Yonhap News Agency