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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Export and Import Prices Slide in July

Export and Import Prices Slide in July

Aug. 19, 2013

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Despite rising oil prices, import prices dipped 0.8% from a month ago in July, representing a reversal from a 2.1% gain in the previous month, said the Bank of Korea (BOK). According to the central bank, July's drop was attributable to raw materials, excluding crude oil and sliding won/dollar exchange rates. The won rose 0.7% against the dollar from 1,135.21 in June to 1,127.23 in July and Dubai crude ascended from US$100.17 per barrel to US$103.55 during the same period. Compared to a year ago, import prices tumbled 4.3%, extending its losing streak for the 11th consecutive month.

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