South Korea's current account surplus with China posted a steep fall last year.

According to tentative Bank of Korea(BOK) data on 2015 trade figures with global regions released Friday, the nation's current account surplus, which includes commodity and service trade, rose by over 21 billion dollars, or 25-point-five percent, to 105-point-eight billion dollars last year from 2014.

The rise in the surplus is attributed to improved trade terms, including lower oil prices and a sharper drop in imports than exports.

By country, China accounted for 42-point-six percent of South Korea's total current account surplus last year at some 45 billion dollars. However, the current account surplus with China, South Korea's largest trade partner, dropped by almost eleven billion dollars over the past year from 56 billion in 2014.

The BOK said that smaller exports of chemical products and display panels to China reduced the goods account surplus, while the service account surplus also decreased at the same time.