Asia’s Trade Performance after the Currency Crisis

[...]A key observation is that import and export prices roughlytracked each other, with both tracking the behavior of worldtradable goods prices. Indeed, trade prices were fallingthroughout Asia by similar magnitudes, regardless of howmuch each country’s currency depreciated. For both Thailandand Korea, import and export prices largely followed worldexport prices. For Thailand, the import and export priceindexes did not seem to have been influenced much by thebaht’s value, while those for Korea did appear to have beenpushed down further by the won’s fall.[...]