S. Korea's export value falls to 6-year low in February

South Korea's exports value declined in February to the lowest in six years as cheaper crude oil led to lower export prices of oil products, central bank data showed Wednesday.

The export value index came to 94.64 in February, posting the lowest since February 2010, according to the Bank of Korea (BOK). It went down 8 percent from a year earlier and down 1 percent from the previous month.

Export volume increased 4.8 percent in February from a year earlier, but lower export prices of oil products resulted in the fall in export value.

In terms of value, exports in coal and oil products plunged 26.2 percent in February on a yearly basis. Those for primary metals tumbled 14 percent, with shipments of electric and electronic products sliding 10.6 percent.

In volume's term, exports in coal and oil products surged 28 percent last month. Shipments of food and beverage advanced 14.7 percent, and with those for primary metals and chemical products rising 9 percent and 6.9 percent respectively.

Trade terms improved on lower energy costs. The net terms-of-trade index, which gauges how many goods can be imported with a unit export, increased to 103.54 in February, the highest in almost six years.

The income terms-of-trade index, which measures how many goods can be imported with total export proceeds, came in at 125.96 in February, up 8.1 percent from a year ago. Enditem