South Korea’s current account surplus hit a three-month low in July partly due to sluggish exports. 

According to preliminary data announced by the Bank of Korea(BOK) on Thursday, the nation's current account surplus came to eight-point-71 billion dollars in July.

With the July tally, the country extended a record current account surplus rally to 53 straight months since it began to post a surplus in March of 2013.

However, the level of surplus was only 72 percent of the peak of 12-point-06 billion dollars posted last month. It is also the lowest in three months since a three-point-37 billion dollar surplus in April.

A BOK official attributed the drop to the slumping exports in July, which dropped by ten percent on year to 42-point-51 billion dollars.

The country’s imports fell by 15-point-one percent to 31-point-seven billion dollars.

Meanwhile, product's account posted ten-point-81 billion dollars in surplus in July, falling from 12-point-71 billion dollars in June.