S. Korea's export prices up 0.9 pct in September

SEOUL, Oct. 18 (Yonhap) -- South Korea's export prices rose slightly in September compared to a month earlier due to rising oil and raw materials prices, the central bank said Wednesday. In local currency terms, overall export prices rose 0.9 percent last month from August's figure, according to preliminary data provided by the Bank of Korea (BOK). The BOK said rising oil prices pushed up petrochemical product prices. Export prices of coal and petrochemical products rose 7.2 percent in September compared to the previous month. Year-on-year, export prices rose 10.9 percent last month, the highest since March 2009, when the corresponding figure was 17.4 percent. The U.S. dollar traded at an average of 1,131.59 won in September, compared with 1,130.79 won in August. For exporters, a weak won results in increased income when their dollar-denominated overseas earnings are converted into the local currency. Export prices of industrial goods rose 0.9 percent month-on-month, while those of agricultural and fishery products grew 1.1 percent during the same period, the data showed. Meanwhile, import prices rose 1.7 percent in September from a month earlier due to a hike in oil prices. Year-on-year, import prices climbed 10.7 percent, the central bank said. The price of Dubai crude -- South Korea's benchmark -- stood at an average of US$53.66 in September, up from $50.22 in August, according to the BOK. entropy@yna.co.kr (END)