The value of imported goods surged by more than 40 percent on-year last month due to rising oil and raw material costs.

According to Bank of Korea(BOK) data on trade terms in November, the index for the value of imported goods rose 42-point-eight percent from the same month last year to record 159-point-29, continuing on-year growth for the 12th straight month.

By item, coal and oil products posted the sharpest growth, followed by mining goods and metals. A BOK official attributed the higher index to soaring global oil and natural gas prices. 

The index for the value of exported goods also jumped 27 percent last month to 140-point-66 marking the second month of on-year gain.

Meanwhile, the net terms-of-trade index for goods fell ten-point-one percent last month as import prices rose at a much faster pace than export prices.