Export prices flat, import prices drop 4.4 percent in June
The Bank of Korea announced that Korea's Import Price Index decreased by 4.4 percent month-on-month in June 2026, while the Export Price Index remained unchanged. Year-on-year, export prices rose 48.9 percent and import prices increased 20.6 percent.
Trade prices diverge monthly, surge annually
Korea's Export Price Index (KRW basis) showed no change from the previous month in June 2026, holding steady at 0.0 percent.
However, on a year-on-year basis, the index saw a substantial increase of 48.9 percent.
In contrast, the Import Price Index (KRW basis) experienced a notable decrease of 4.4 percent month-on-month.
Despite this monthly decline, the import index still recorded a significant year-on-year rise of 20.6 percent.
Beyond prices, trade volumes also expanded, with the Export Volume Index increasing by 29.8 percent and the Import Volume Index by 12.0 percent year-on-year.
Correspondingly, the Export Value Index surged by 74.8 percent, and the Import Value Index grew by 30.5 percent year-on-year.
The Net Barter Terms of Trade Index also improved, rising by 15.6 percent year-on-year in June 2026, indicating an enhanced purchasing power of exports relative to imports.
All figures for June are preliminary and subject to revision.
Behind the numbers: Index compilation
The Bank of Korea compiles these indexes to measure fluctuations in the prices of goods traded, assessing their impact on domestic prices and costs.
Prices are surveyed monthly, based on contract entry points, with export prices on an FOB basis and import prices on CIF.
Items selected for survey must represent significant trade volume, exhibit uniform quality, and have stable price time series.
As of 2026, 214 export items and 240 import items are included.
The indexes are primarily compiled on a Korean won basis, with contract currency and US dollar-based indexes provided as supplementary data.
A Lowe Chain weighted formula is used, with the price reference and weighting period updated every five years to reflect changes in trade structure.
All current month figures are preliminary and subject to revision.
Mixed signals for trade health
While the month-on-month drop in import prices offers some relief from inflationary pressures, the strong year-on-year increases across all trade metrics highlight persistent global price dynamics.
The significant growth in both export and import values, alongside volumes, points to robust trade activity despite the mixed price signals.
However, the preliminary nature of these figures means their full implications for the broader economy will only become clear with subsequent revisions.