Regardless of the decline in worldwide oil costs, import costs final month rose almost 2 % as a result of affect of a excessive alternate price. Based on the “October 2025 Export and Import Value Index” launched by the Financial institution of Korea on Nov. 14, import costs in October elevated 1.9 % from the earlier month within the Korean gained phrases. This marks the most important enhance in 9 months since January this 12 months when costs rose 2.2 %. In contrast with the identical month final 12 months, import costs rose 0.5 %.
Even with declining oil costs, the depreciation of the Korean gained pushed costs upward. The month-to-month common value of Dubai crude fell 7.2 % from $70.01 per barrel in September to $65.00 in October, however throughout the identical interval, the common won-dollar alternate price elevated 2.3 % from 1,391.83 gained to 1,423.36 gained.
By product class, uncooked supplies fell 0.6 %, however intermediate items surged 3.8 %, lifting the general index. Costs for computer systems, digital and optical gadgets, fundamental metallic merchandise, and chemical merchandise all rose concurrently. Capital items and client items additionally elevated 1.3 % and 1.7 %, respectively.
Amongst detailed objects, costs of beef rose 3.3 %, ammonia rose 15.2 %, and different refined valuable metals rose 15.7 %.
Will increase in import costs can place upward strain on client costs not solely by means of the worth of client items but in addition by means of uncooked supplies and intermediate items utilized in manufacturing processes.
