Imports got more expensive for South Korea last month. <br />The Bank of Korea says the country's trade term index in July fell to a near four-year low due to rising oil prices. <br /> The index measures the amount of imports a country can purchase per unit of export goods. <br />The index slumped... nine-point-seven percent last month from a year earlier. <br />It's now at its lowest point since November 2014.<br />The central bank attributed the sharp drop to rising oil prices…because South Korea relies heavily on crude imports. <br />The income terms of trade index, which measures how much a country can import with the total value of its exports, edged up one-point-six percent on-year in July. <br />
