May export price index rises for 11 consecutive months... driven by semiconductor demand
Export price index rises for 11 months, led by strong DRAM and nonferrous metals Import prices fall for 2 consecutive months on lower international oil prices, check the trend
According to the Bank of Korea, the export price index for May rose 0.3% from the previous month in won terms, marking its 11th consecutive monthly increase. The rise was driven by increased demand for memory semiconductors and nonferrous metals amid expanding investment in artificial intelligence.
By category, computers, electronics and optical equipment, as well as primary metal products, showed strength, and in particular, prices of DRAM and flash memory rose sharply. The increase in the wondollar exchange rate also affected export prices.
Meanwhile, the import price index for May fell for the second consecutive month due to the impact of lower international oil prices. Prices of energyrelated items such as crude oil, naphtha, and diesel declined, and the average price of Dubai crude also fell from the previous month.