Korean import prices rise 1.7 percent as export prices fall
Korean won-based import prices rose 1.7 percent in September 2026, while export prices fell 0.8 percent. The Bank of Korea (BOK) reported annual increases of 17.6 percent and 40.9 percent, respectively, in its preliminary figures.
Raw materials lift import costs
The export price index fell to 182.29 and the import price index rose to 159.37, with 2020 equal to 100. Raw-material import prices increased 9.6 percent monthly and 39.3 percent annually.
Coal, crude petroleum and natural gas prices rose 13.4 percent monthly and 47.9 percent annually.
Intermediate, capital and consumer goods import prices fell 1.7, 2.4 and 2.3 percent monthly, respectively; annual changes were 14.3, -1.5 and -0.4 percent.
Export prices for computers, electronic and optical equipment fell 1.8 percent monthly but rose 108.3 percent annually.
On a contract-currency basis, export and import prices rose 2.6 and 4.9 percent monthly, respectively, and 44.5 and 20.6 percent annually.
Export volumes outpace imports
On a US dollar basis, export volume increased 32.1 percent annually and import volume rose 11.1 percent.
Export and import values grew 89.2 and 26.9 percent, respectively.
Computers, electronic and optical equipment exports recorded volume growth of 46.6 percent and value growth of 212.4 percent.
The net barter terms of trade index reached 119.52, up 25.4 percent annually but down 0.3 percent monthly.
The income terms of trade index rose 65.7 percent annually to 216.70, measuring the import purchasing power of total exports.
Currency basis matters
Won-based export prices fell while contract-currency prices rose, making the currency basis essential to comparisons.
September figures remain preliminary and subject to revision in the next release.
Annual trade indexes will be finalized in March 2027 after confirmation of customs data.